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I worked at Mindspeed full-time (More than 5 years)
Flat organization provided god opportunity to learn business.
Top leadership was short-sighted and would only embrace what they wanted to see at the exclusion of what was real. Board rewarded only top leadership when company did well - no bonuses or RSU's below director level, regardless of performance.
Advice to Management
Hand over the company to leaders that appreciate the people that make the company successful at every level, and who have the courage to embrace the brutal facts, and act accordingly.