Yes, a whole bunch of people will be sacked, we all know that by now, but I think those who're telling everybody to leave right now are making a mistake. Why leave and not collect severance? If you've been here for a year or two, that's one thing. But if you've been here long enough to merit decent severance, why leave it behind? You can still hunt for a new job to see what's available, but I would hold off on accepting anything. That's how I'm approaching this mess. They want me gone? They better pay me to leave, then.
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@okx+1h7rRS0m
everything I have heard and reads says VMware gives minimum 2 months severance regardless. My thoughts are they may give something else as well, perhaps a prorated bonus.
From what I've heard VMware is quite generous in this regard, the hope is they will negotiate with Broadcom to treat soon to be former VMW employees right.
Hock did say those parting will be treated fairly so let's see.
The reason to go ahead and get out is because the economy is looking uncertain. Either we're about to get into a recession or are already in one. As such it could take much longer to find a new job. Broadcom has made the decision easier since its pretty clear they will gut VMware just like the other companies they buy. So unless you happen to be some upper level engineer working on a particular product that makes a lot of money then you have anywhere from 6 months to a year to find a new gig.
If you will receive a meaningful severance it does make sense to wait (in most cases), but some people prefer the comfort of having a great new job. When you become greedy, you often are left “holding the bag”. Most companies now will offer a sign on bonus for talent. Keep in mind, severance will be taxed and depending on what tax bracket you are in (if not the top one), will put you in a higher tax bracket. Only you know what is best for you and you should do whatever that winds up being. The great news, no matter where you go, you will be better off over Broadcom.
Don't forget you might have RSUs and ESPPs now worth more that might vest while you wait. You also might have vacations that would be under VMware and not your new job that might not have unlimited vacation. The world (recessions) and VMware (spinoffs, layoffs before buyout) can change dramatically in the 6 months before you get your severance. Start looking now, be picky and do at your pace, and be honest with potential employers. Ask for a few weeks pay signing bonus or other perk at offer time to off set some of the lost severance. Finding a great job could take time.
I only started a month ago curious to know what is the severance package for new hires like me. Will we still get 2 months?
Well unfortunately there can be another risk: to be sold to some other companies like HCL or something like this... and in that case no VMware, no Broadcom and no severance package...
I agree with the OP, i waited and i took a very good severance , not the brcm one but the ca one. Thx again octane for the money you gave me
My issue is deciding how much severance would be enough for me to want to wait it out and create a deadline to get a new job - 2 months base + 2 weeks/year would do it but I feel low chance we get that due to the huge number they'll cut. 2 weeks/year is borderline for me.
Honestly wish this go-shop period ended sooner so we could see what the packages are lol