Thread regarding Symantec Corp. layoffs

Guys - Any updates on movement to different projects other than SOC. I heard many managers are going to move to different projects other than MSS ? Are we also moving with them ? Any updates will be greatly appreciated..

Contractor meeting going on, same old lies..

Chennai directors.. Biggest jokers, without any information they simply say something..

Broadcom expect profit margins of 50% from their business units. They have stated this publicly many times.

In CA, the services division, just like any professional services company, had much lower profit margins. Broadcom are simply not interested in this type of business, so they sold it to HCL.
However, Broadcom did recognize that enterprise software products do require a services division, so they entered into a special privileged partnership agreement with HCL.

What sort of margins does CSS have?
My guess is that it's also a people-based business with profit margins similar to professional services companies. So quite likely to be sold off.

IMHO, CSS business will be sold. The contribution margins are not material, relative to complexity of delivering the services

CSS profit margins are not comparable (to other current Broadcom solutions), and contains significant complexity not well understood by Broadcom. I vote that the business is sold.

If you want the experience from former CA: they kept all products except for Veracide, which had just been acquired.

That does no guarantee your job: as you know about 40% of CA was gone on day 1, and an additional 20% on transition and due before the first aniversary, but the products themselves stayed for the most part.

Some myths to dispel:

• You should be worried by function, not by product. Sales, Marketing, Legal were simply m—acred, while support or development had a lesser attrition. I would say that in the former, about 90% were gone, while in the latter only about 30%

• Broadcom is NOT a company for cheap labor: in fact they kept the most experienced engineers with the highest salaries and they even increased those for people staying. They are looking for what they perceive as excellence, not cheap sweatshops

• You should be VERY worried if you are middle management. If Symantec has a very hyerarchick structure, middle managers, vp....will be gone. There is only about 3-4 layers between a foot soldier and Hock Tan

• Broadcom will sell entire divisions if they are not interested, though. This happened to the whole of services at former CA

• Broadcom DOES honor commitments like severance, tenure....In CA everyone laid off walked away with a good fatpaycheck. Don’t listen to anyone telling you they have a scheme for firing you at no cost, or not honoring your time served. They may be many things but they are honest and just in this

• Broadcom is a money-centered company: rewards are based on money. Do not expect perks like company cars, free education, exra tine off...this will all be sc-apped the sooner the better, with no exception, for those staying, of course. They pay you well and that’s it: you are expected to sweat your butt out in exchange for that

• Broadcom have a tendency to shoiot first, then talk. They won’t listen to anyone presently in Symantec board for deciding how to organize business, who to keep, how many... They think they know how to run the business and the right number of people (and frankly seeing how shares are moving they probably do) and they will stick to their planning. If it turns out something can’t be done or it does not work after they are done with it, they will rectify, but not before having implemented their vision and having seen success or failure. Broadcom expects income of about $1M per employee

• Don’t speculate about who decides who stays and who goes. At CA nobody knew that and we could never find out who had decided that. I can tell you middle managers did not. Some decisions about keeping some people and firing other were a real puzzle to many of us

• Prepare to work very autonomously. Broadcom excels at cutting costs: all is based on cheap tools, like google, and the scope of the remaining managers is much bigger. They also integrate very fast each acquired company to their system, so be prepared to take your decisions yourself and to have to change systems fast.

• Broadcom is much against working from hone. Unless they need you dearly or they have no alternative you need to go to the office. If there are less than 15 people left in your location and they are interested in you, they will allow it. 15 is the limit for an open office. If it’s just you or your location doesnot bring money, you are in danger.

With all this, good luck!!

Art made reference to SOC sites potentially being retained when asked about office closures, that implies they are at least assuming MSS will be retained. I'm assuming Email and MSS will be retained just because they're so big and have a lot of the key Broadcom top accounts. They aren't the top 3 products of most interest, but closing them almost immediately will be next to impossible due to their size, same goes for selling them off before close.

Nothing will stay , all they care about is the asset + sell = make profits.

You guys should consider looking for a job.

CSS while is core business it is not something that Broadcom has done in the past or would want to do. It is profitable and has good run rate. I think it will be sold to someone before the deal closure or just after. Intel and IR are to small for Broadcom. Either they are sold with MSS or k–led.