Any clue on when we will know if our division/product will survive or not or we will be laid off / sold off ecc ? And also about the entity of the severance for non US based employee? Do you think this will happen after the go to market period will end? or even more in the future? Or just before day1?
For what I read Broadcom in the past has been very honest on this, hope it will be the same.
Having gone through this before with Broadcom and been part of one of the divisions that worked with the merger team here is what will happen.
Before merger, each functional area will prepare a “singing for your supper” presentation that outlines your orgs product, business model, profit margin, operating profit, headcount, etc. This will be used for Hock and team to determine just how incompetent your groups management team is and if you product line can be steered into Broadcom’s business model.
If your org can’t be a highly successful part of Broadcom, it will be sold to some su---r company. If your org can be merged into Broadcom, headcount targets will be set and your management will need to met that goal. Our org got an initial 25% layoff target. These meetings happen before the acquisition closes. To be part of Broadcom, you will need to be able #1 or a very close #2 in your respective area. If you aren’t, you are gone but most likely sold. Hock has an uncanny ability to find really stupid companies to sell complete cr-p divisions to. On day 1, you will likely find out if you are gone or not.
Op here. Thanks AVAGO dude! It’s helpful to know that we won’t hear anything until day 1
OP, the closing date is unknown, even to the highest exec in either company. This sort of deal is very complex, there may be self imposed or externally driven delays.
They would love to conclude the deal as quick as possible but stuff pops up. They have already said they would love to close it out by the end of their fiscal year, but regulatory requirements around the world will say different.
They also don’t know any detail about the VMware operations yet, but are probably just getting to grips with that now. So no one can tell you what is happening in a specific function. Over the coming weeks they will build a picture of what is possible, but won’t share until they need to share. Right now they are not sharing because they don’t know, not because they don’t want to tell.
Broadcom doesn’t know the close date. The close date occurs when all closing conditions are met (from EU, USA and other possible regulators). Once all the closing conditions are met, Broadcom is notified and then they notify the stock exchange and things happen in about 72 hours. Broadcom doesn’t dictate the closing date.
And just because this question is asked daily. Broadcom can’t fire anyone until the closing date occurs. If VMWare wants to fire people, they can. Broadcom firings will occur on Day 1 or shortly thereafter.
Day 1 is defined as the day where all closing conditions are met.
AVGO dude here....worker bees won't know anything until Day 1.
Directors and execs have some implicit knowledge based upon inspections and other "requests" from AVGO M&A team. The highest level execs know the game plan. There are some moving parts in action, and of course any anti-trust concerns may delay things. I'm guessing Day 1 sometime early 2023.
im sorry you guys have to deal with this nonsense, unfortunately that's the way things work and nobody is immune to this. Hence be prepared as the saying goes.
Op here I’m asking when will broadcom tell us the close date. Are you saying they cannot tell us this or our leaders cannot tell us until the deal closes so we will only know the day of?
This question has been answered about 100 times. Broadcom can’t communicate to us until they are the rightful owner. That will happen when the deal legally closes - could be as early as November or may take up to a year.