Once the acquisition is finalized (and assuming we are not laid off before that happens), will we be entitled to VMware's or Broadcom's severance? From what I've been reading, Broadcom's severance leaves much to be desired, so that would not be the optimal option.
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Broadcom will push to get this deal closed before the beginning of its fiscal year in November. Based on past experience, there will be total chaos and pandemonium for a while. Broadcom moves fast and corrects its mistakes as it goes.
Sorry, but the previous reply is full of dubious information.
(1) ...probably a working version document...
This is the OFFICIAL MERGER AGREEMENT filed with the SEC:
https://www.sec.gov/Archives/edgar/data/0001730168/000119312522161025/d525235d425.htm
Look at section 7.7
(2) February close
If you are selected to be in the first bucket (Broadcom doesn't need you), your last day is the close date. You don't get any bonus that you would've received past that date, you don't get any RSU vesting you would've received past that date. You are gone.
reposted from another thread:
No one REALLY knows right now. They are looking at what VMW has done in the past, what broadcom has done in the past and a leaked (unconfirme,d probably a working version) document that in one section notes that the severance cannot be less than what VMW would normally offer.
Today we are literally one week from this being public and they are all sitting on a letter of intent and some preliminary paperwork. Details like severance and stuff wont have a project deadline until a month or so before the closing/potential cuts.
So dont listen to anyone yet. If you must guess make it simple:
Basically in the past VMW has had 2 months + a week per year of service. And during that 2 months you are still vesting...
So assume a February close on the deal. Lets just swag Feb 15. 2 months takes you to April 15 (bonus pay out in the US) plus June 1st is a big day for the old (more than 2 years) RSU grants to vest, with Feb 1 and May 1 vest date being smaller (more recent) qtrly vest dates...
If you can hold, and stretch a little (using history and the knowns) you can get a pretty good idea of where you wind up.
Hope for the latest close date possible.
Get your severance.
Get your Bonus
See if they are offering any short accelerated vesting (that big June 1 drop)
You could wind up (even with 3 years here) with almost 3 months of severance pay, Cobra (health care pay) Your bonus, AND some of the RSUs that are vesting or vest in a short time due to a transaction based acceleration of some RSUs.
For me that is real money. Could be close to 1/2 a years wages.
isn't the current VMW standard 2 months minimum + week per year of service?
The word on the street aka here is 2 week pay/per year of service.