It's been a few weeks since the announcement and I thought there'll be more people leaving or talking about leaving at least but that's not the case. Everybody is in waiting mode and nobody seems to be making rash decisions, which I think is a good thing. So many things can still change, so why risk blowing up your life unless you're certain about what's coming?
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Please, the exodus started almost two years ago. According to Kit's Radio keynote, over 30% new hires in R&D, SEs/AEs sales turnover in two BUs over 40% in the last 8 mos. These are huge #s that had nothing to do with Broadcom, just the realization that VMware "innovation" and ability to to move into SaaS effectively was waning. This company has never had a bona fide COO to keep a lid on operational costs, especially for the bad M&As (thanks for that., Zane). We relied on cash cows for too long, Raghu's shiny new product ideas (remember vSOM and NSX as a service?) now Broadcom will help us get the house in order. It's a shame but we did do this to ourselves.
Delusional. Hocks sharpening the scalpel as we speak. And likely negotiating with other companies to unload non-sticky products within a year.
GTFO of VMW…now. The cuts will be epic…
To all of the people who are messaging Betsy Sutter on the Broadcom Slack channel and asking endless questions, just give it up. Start looking for a job. Did you read her letter today? She is the most clueless and tone deaf person ever. Still pushing DEI all day long day after day and telling you what a family we are, while avoiding answering your questions about the acquisition. She doesn't care about you. She is all proud of her DEI VP hire. She and the management team are making $millions off of this sale. Read the writing on the wall people.
I am actively interviewing, once I find a suitable offer, I am gone, not waiting around for the severance. check out levels.fyi to see how VMW pay grades stacks up against BC. What I calculated as a P5 I will be making less money in BC. Hence the dreaded decision to jump ships.
I think people are forgetting that not all 37k staff are US based.
Europe has different laws and you cannot just fire someone. So cannot be a 20k day one. Unless it’s all non-eu staff.
Can you explain “ Come Day 1 there's gonna be cuts, and to do that, they obviously have to give notice in advance of the close”
What does advance notice mean? At CA, Broadcom was working with CA management for weeks to come up with the large exit list, but didn’t give anyone “advance” notice. Everyone was fired via email on Day 1 but not sooner. Some people that were being offered jobs did know in advance they were being retained (and some were lied to and told they were OK and then fired anyway.
Uh, saying theres not gonna be layoffs by VMware is just playing semantics or being straight up ignorant. Come Day 1 there's gonna be cuts, and to do that, they obviously have to give notice in advance of the close.
So no, there wont be layoffs by VMware, but yes, people will know they will be laid off.
There is a recession coming. It will hit us all in early August. We are already seeing signs of it. Q1 performance was bad. Q2 will be worse because we won't make the revenue numbers because of the economy. There will be a cut back on spending. If you listened carefully to Z, you know what I mean. And what exactly is spending? You and me. There will be a layoff before the BCom acquisition. I'm sure there is already a quiet freezing hire.
Someone else said this already but want to reiterate. VMW will not layoff mass amount of people. They would never agree to do that as part of the deal terms. In fact, they agreed to NOT do that. Any costs to eliminate people would hit the bank balance and VMW guaranteed Broadcom a certain amount of cash when the deal closes.
So for the one hundredth plus time, VMW will not be laying any one off, unless they planned on doing this layoff regardless of the acquisition happening. Also, Broadcom can’t sell what they don’t own. No businesses will be sold until the deal closes, just like they did with CA and Veracode.
Best for people that have no idea on how deals work stop commenting on a layoff that won’t occur. You can even ask your VMW Management this question and they will tell you that they have no plans to layoff anyone between now and official close. They don’t want to work that hard.
One of the problems I have seen is trying to find a job that pays an equivalent salary. Spoke with a recruiter today who said I would be a great fit but the base was $26k lower and the bonus was lower too.
The layoff will happen before they are part of bcom. No cost to Bcom. Layoffs that happen after the acquisition when they figure out more on which BU's they need to invest will incur cost. To avoid all the mess, they will try to sell to some one IP + some people. (May be leave by then any way. Remaining are those who can't get job)
Waiting for package is not useful, it may take 6-12 months. And I am not sure if Broadcom will give good package because unlike previous acquisitions, in VMW they will have to layoff 20K+ , it's a lot of people and huge cost to them.
Like everyone else is saying, you have to be special to be able to apply and get offered a new job in less than 3 weeks in this environment, were you just expecting everyone to just quit without something lined up???
also holding out hope for a savior in the go shop and/or nice severance
There is a fear from senior management about H2 attrition. They are actively trying to work on strategies to make do with what is left. Whether it plays out I don’t know but this is what I know for fact.
Many/most are actively looking and launching searches, and recruiters are coming out of the woodwork. It's too early to see an exodus...just wait until after Q2 commission checks hit at the end of August. Between that, and post-Labor Day, you'll see your exodus...
I am going to get an offer soon and I will be done. I dont want to wait for severance. You will get few weeks more on severance with experience and then you have to exactly time it such that after you are laid off you will go there. Two problems, other side employer wont wait and the fact that you are expecting more severance means more exp and its not easy to get job with more experience quickly. You will have to compromise and join some where and that means you will have less comp just because u waited for severance. Doesnt make sense..
Broadcom can’t offer anyone jobs before the company is officially acquired. No one is getting a job offer in July and no one is getting fired in July. Job offers will come when the deal closes in November, as will the terminations.
Its not easy to get job now. Nothing will change with go-shop. No one else will buy.
My guess is Bcom will give offers to all the important BU's in July.
Im looking have already had multiple interviews and waiting on an offer from some. People are looking but it takes time to find the right job. Most interview processes take weeks now so just because people didnt leave it doesnt mean they wont, they just didnt have the time to yet
I'm hoping to get a severance package before switching jobs.
It could take up to 6 month to find a job that you like. I know that other people are looking . And I am looking as well. Wish us luck !
We are still in go shop period. Once that’s over and we have a better idea of a close date or actual close date you will start to see more attrition depending on when close date is. Also remember there is a lot of vmw employees that have substantial tenure. Unlikely to see them leave before getting their severance packages.
The exodus will happen over the quarter. Folks need some time to find the right roles. It has not even been a month since the official announcement.