Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 168.65

-3.1%

1:07 PM EST

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To: Valueman who wrote (22357)	2/2/1999 8:05:00 PM
From: Michael Allard	Read Replies (2) of 152472

Well I, for one, view this move as positive. I know many public companies who carry more than 10% too many employees. I knew when Richard Sulpizio took over, that we were going to get a "roll up your sleeves" and "make money" operations type guy. If you recall, he immediately slowed the hiring process down, and it sounds like this layoff is the result of a very coordinated well planned internal money making reorganization. If the numbers are correct and the move reduces operational expenses by $20,000,000, that would equate to an additional .28 per share, or at the current multiples an additional $10 - $11/share. I have seen many occasions where reductions lead to greater overall productivity, and I hope we get it here too. Will the 20 Million one time charge reduce Q2's estimate, or is that already built in to the guidance?

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