I recently came to VMW. Colleagues advise me to start looking for a new job right away because in their opinion it could happen that last hired is first to get laid off.
Is that really so, or is the role of the employee more important?
Has anyone asked their manager if his/ her role is important going forward at Broadcom?
4 replies (most recent on top)
It all depends on your band to see what the payout percentage will actually be.
The payout for myself is 20% of my base salary which is paid out at 100% if all division and corporate goals are met. Last year, instead of paying 20% of my base salary (base salary was 100%), it was paid out at 138% (base salary 100% + 38% exceeded goals)
This year as an early thank you to everyone's hard work they have already agreed to raise the base payout percentage by 5%, so I will get 25% of my base salary plus whatever percentage our division and corporate goals are exceeded. Everyone is expecting the total payouts to be higher this year as it was another record profit year for Broadcom .
138%? do you mean 38%. are you saying that assuming your base bay is 100K, you got 138K in bonus? or do you mean 38K?
If you are located in the US the layoffs are age balanced, but generally speaking, they did keep most of the experienced staff.
However if you are put on transition, you will get a full severance package plus 50% of your salary as a bonus to stay for the length of the time.
If you are kept, you will most likely be given a very generous annual bonus (last year paid out at 138%) plus a good amount of RSU's to vest over 4 year time each quarter.
I'm only technical (non managerial) and I was given over $200,000 in RSU's that are worth closer to $500,000 today and once vested these RSU's pay cash quarterly dividends.
No because nobody will know of their role is important. If you are part finance, HR, IT, Marketing I may have a back up plan. If you aren't in those then you have zero idea if you will be redundant. There is no telling if even those roles would be chopped. Way to early