Layoffs are "forward-looking guidance". You can bet that the next quarterly conference call will reflect the layoff action. That's how it works...look at the sales forecast and if it looks bleak for a significant amount of time then layoffs usually occur BEFORE the official financial bad news hits Wall Street. That way management can say something to the effect of "we've already responded quickly to reduce costs". Long term trend in the semiconductor business is big-time mergers and aquisitions just like the NXP story.
...but is a single one of these big-time mergers and acquisitions doing well?
My impression is that NXP is weighed down with debt at the expense of business maneuverability and R&D to the verge of long-term failure.
Wall Street is obsessed with the neanderthal presumption that bigger is always better but in practice, I don't see it working out that way. One might as well beat rocks together and grunt.
In the absence of creative management capable of doing something constructive with the business and presence of excessive debt, growth through mergers and acquisitions is little more than a ponzi scheme.