We are told today that BRCM is taking only 4K of the 10k Symc employees
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Where did you get 4000 number?
I heard 4500 during All-Hands on Monday.
60% is a pretty good guess. If Symantec starts with 12500 and 2600 go with the consumer business, then Enterprise is 9,900. Rumor has it that 1000 RIFs took place last week so 8900 are left standing. To get down to 4000 means another 4900 RIFs to go or 55%.
I think the point of the STAR post is just to show that 4000/7300 calculation could be off.
Hard to say. Maybe Art already accounted for STAR employees and this is exactly the reason we heard 4500 before and 4000 now. Broadcom will get 4000 from EBU and 500 from STAR.
I do not have any insights here.
Otherwise, it will mean that Broadcom will offer 4000 out of 8000 (7300+700) and I agree that most STAR folks will be offered a job.
If STAR is safe why would STAR's SVP leave and join EBU?
People mentioned few time that EBU has 7300 people. Please also take into account that Broadcom is also acquiring STAR which is not under EBU. Star has 700 employees and absolutely most of them will get an offer from Broadcom. This org is lean and own all critical technologies for SEP, Proxy and other products.
@10xw1wwW-sdo
Was the excel spreadsheet on severance on point with what you got or was Symantec more generous?
The EBU that Broadcom is buying has roughly 7300 people left. Broadcom only wants to make offers to 4000 people. Therefore about 3300 more people will be let go by end of this calendar year. Art made this very clear on a call today.
In reality it's 33% , 1000 laid off last week and another 2900 coming up, so that's 3900 out of 12000 = 33% roughly
Why wouldn't they be gleeful? They're doing the job for which they were hired. The old plan for SYMC clearly wasn't working. No real need to be salty over it, particularly with the package they're handing out to people that are being laid off. I say this as a person that will be out the door in this.
Yes, seriously. I don't think I've ever seen two people so outwardly gleeful at having made a decision that's going to cost 3-4000 people their livelihood. Clearly there are two huge buckets full of cash awaiting Hill and Vince.a
Last time was 4500.. and now its 4000. So it means another 500 to be laid off
I wouldn’t expect Broadcom to take all 10,000 employees since they are only buying the assets of the Enterprise Business Unit. That being said, Broadcom will undoubtedly not hire all of the employees of the EBU due to redundancies and a desire to run a leaner operation.
Do you know what groups within Enterprise represent the 4K? Sales? Consulting? Development? Support?
Yep, that's what was said at the all hands. Norton-Lock will only be 2,500 strong. Rick and Vincent were so thrilled about it at All Hands and on the earnings call. I guess when you been a CEO and an investor, and your net worth is the only 1.5M that creates excitement, pretty pathetic. Vincent, on the other hand, has stacks of cash, so perhaps, he just excited to ruin peoples lives. At the end of the day, it’s just business. Good luck!