I know everybody rightfully hates layoffs but what other way is there for Qualcomm to cut costs efficiently to reach the announced one billion cut in annual costs? It's the only way that unfortunately makes sense for a company that's trying to ensure its future.
I can't think of one thing that would even come close to it. Am I wrong?
The ones who decided who to cut could be the ones who get Q into this problem to begin with. Now Q cut 30% of lab people and the top is the same, the work quality has to be lower.
Sell BUs.
Sell buildings and lease back.
Close down all those diversification adventures. Auto is a pig, not needed once NXP closes.
All the non-core stuff, get rid of it. Sell if possible else just shut it down.
Q needs major contraction to may 1/3 of current size. And that 1/3 needs to be outta US.
How about stopping the over hired then fire process. Get the hiring right so the firing isn't necessary. Management messed up by over hiring.
Anyone at VP or above level who has no idea what is wrong at Q needs to be let go immediately.
The obvious solution would have been not to cut one billion unnecessarily.
I strongly assume OP used that question as a kind of IQ test.
Benefits : Don't allow leave accrual for encashment => 5%-7% of base is saved => 10K per employee => 100million,
reduce premium/pay for partial disability, less incentive to be OOO unless absolutely critical,
QC, so many layer of delivery support : engg Op, pmo, multiple-IT, IT Ops, multiple CAD teams, majority of team members are doing co-ordinations. can reduce 30-40% of team easily, infact you will get better delivery..
Qualcomm still has lots of principle engineers and above adding no value to Qualcomm
Salary cut. AMDs done it prior. Not that they’re a grand company to base your biz on.
Employees generally hate it from my experience because they would rather see the bottom 10% get whacked and keep their own salary at 100%. Selfishness.
I usually agree cause there are always tons of dead wood types around.
Google is your friend.