Thread regarding VMware layoffs

@2gzz+1oddWtya wrote:
When BC acquired CA, all the notifications went out after the close date.

So you're saying that you worked for a few days/weeks under Broadcom before notifications went out? You were paid by BC payroll during this time?

The rumor is not about being laid off on August 31st. The rumor is that the people on the lists will be informed about their fate but the actual lay off date will be on or after October 30th. Actual severance kicks in on that day. . I am hoping they do that so that we all are out of this misery.

Ex CA Employee
Don't expect anything to happen on 31 August.

When BC acquired CA, all the notifications went out after the close date.
They've waited, what, 2 years to close this deal? They won't mind waiting another 60 days to complete the redundancies.

I doubt anything is happening on Aug 31st. It would not make any sense to do a layoff on Aug 31 and then again at close. At this stage it is just one layoff and that is the layoff associated with the closing. Expect some clarity on where you stand in the 3rd week of October just prior to close not before then.

In the case of a consultation process, is there a way to find out who the employee representatives are and how they are selected?

It is understood people don't have the exact answers or timelines, but HR should at least inform people about processes so people know what to expect.

I’m a senior director and while I missed the mentioned meeting I played the full recording to verify what was communicated. There was no mentioning of August 31st notification as the integration work continues in Sep. Unless there was a different meeting what shared here was untrue. It’s a very difficult time for all of us - there is really nothing much we can do now so let’s use the next 2 months to do things that matter to you the most ( job hunting, quality time with family, friends and colleagues, making more money by overachieving … etc ).

Please can someone at the Director level or above confirm if people will get to know their faith by the end of next week (31st August/1st September). Please just be kind and show some empathy. People are literally counting if they have enough Xanax to make it through.

close date after 11/1 like both CA and Symantec

VMWare Broadcom AMA Slack channel reply has confirmed that they expect transaction to close on Oct 30, 2023.

Also for folks expecting a notice 60 day prior, there is an option called "Pay in Lieu of Notice". This is mentioned in the severance policy as well as FAQ for the retention RSUs. What that means is that Broadcom can lay us off on Oct 30 and pay us salary and benefits for the 60 day period as a lump sump amount along with 2 month severance pay. That way we are let go on that same day.
In a regular non working 60 day notice, you still get paid every 15 days and you cannot accept another job during that time (Google followed this process during their big layoff as per someone who was affected by that layoff). Or else you are not eligible for the severance.

Notice or pay in lieu of notice, will have to come from Broadcom because if VMWare sends the notice then we are being laid off before the closing. That will mean that retention RSUs will not be paid. And after spending $61B, I don't think leaders of either company want to dent their reputation to save $100M in retention bonuses. Hence my best guess is we get layoff notices on Oct 30 with Pay in Lieu of Notice.

In Ireland, there needs to be a consultation before layoffs:
https://www.citizensinformation.ie/en/employment/unemployment-and-redundancy/redundancy/what-is-redundancy/#:~:text=Your%20employer%20must%20enter%20into,any%20alternatives%20to%20the%20redundancies.

Same in UK so likely that on 31 August / 1st September you receive notice that your job is at risk and there will be a 30 day consultation window. You can make suggestions during that time and HR will schedule a few calls to go through the motions but at the end of it you’ll get formal notice of redundancy.

I have no legal background whatsover, so trying to get my head around the layoff process in Ireland and the UK. Am I correct in saying that before the official layoff notice, employees must be given a risk of redundancy letter which includes information about the consultation period, and then only after the consultation period is over, a formal layoff notice can be given? Thanks in advance.

"Broadcom is now effectively clear to close the purchase of VMware"

Next, SEC will look at any significant insider trades. Lots of folks know about the one-year capital gains rule that will impact new BC holdings, and decided to exit their VMW holdings during this morning's price bump.

It's not only about approvals, there are other tasks that are to be completed to be ready for acquisition... So the Oct 30 date is probably set to give BC time for all transfer tasks.

In Ireland, there needs to be a consultation before layoffs:
https://www.citizensinformation.ie/en/employment/unemployment-and-redundancy/redundancy/what-is-redundancy/#:~:text=Your%20employer%20must%20enter%20into,any%20alternatives%20to%20the%20redundancies.

If they get all required approvals before, why would they wait until Oct 30th? The only approval they are waiting for is the one from China, which seems to be in the making. And the FTC won’t sue them anyway.
October 30th is just the latest day possible. And in the middle if our end of quarter.

I don’t believe this email. Raghu will not be leaving. That was the reason Tom Krause was booted from Broadcom as there cannot be two software division heads.

You forgot the line:

"Btw, my $61 million golden parachute is being prepared and my yacht will be setting sail for St. Tropez in mid November. Sumit will be picking up his new Porsche and joining me in Monaco for drinks"

Raghu’s email that he didn’t send.

Hello team,

As you maybe aware, the UK approval from the CMA had been received and with the expiration of the US FTC deadline for objections, Broadcom is now effectively clear to close the purchase of VMware.

Due to the US WARN act, Broadcom is required to provide at least 60-days notice to people whose jobs will be affected. We are expecting this to apply to a large number of VMware employees. Broadcom has stated that they expect to close the transaction on October 31st meaning that these notices will be distributed on August 31st.

Please be assured that VMware severance package will be offered to all employees affected. Exact details will vary based on local geo so please look out for an email from your local HR team.

As the CEO, my position will also be affected and my last day with VMware will be October 31st. Until then, I hope you, like I, will remain focused on the main thing, which is providing a first class experience to our customers while we embark upon this exciting transition.

Aug 31 is notification only, not layoffs. There are still 2 months to go. If you're on payroll you'll get a severance on Oct 31 as well.

In Ireland:
https://www.citizensinformation.ie/en/employment/unemployment-and-redundancy/redundancy/redundancy-notice-periods/

Based on this, I would make sense to notify everyone at the same time.

"The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees."

So, in the US the employees getting notified next week. What about the employees outside the US? Will they get their notice also next week? just asking for a friend :-)

It was nice while it lasted. RIP VMware.

Why will the notice go out 60 days prior or Aug 31st? Why 60 days?

In the US there is the WARN Act which requires companies to give at least 60 day notice of mass layoffs.

"So this "rumor" was in fact true and notices will go out 60 days prior or August 31."

Why will the notice go out 60 days prior or Aug 31st? Why 60 days?

No! OP is correct. Actually the article mentions close date ‘on’ 30th. And that approvals will come ‘before’ that.

the approvals will be received prior but the close date is set for Oct 30, 2023. So this "rumor" was in fact true and notices will go out 60 days prior or August 31.

Wow! Good luck everyone for next week. Certainly the end of an era.

Before, not on!
„Broadcom continues to work constructively with regulators in other jurisdictions and is in the advanced stages of the process toward obtaining the remaining required regulatory approvals, which Broadcom believes will be received before October 30, 2023.“