All VPs affected by layoffs will receive: one year fully paid salary, one year benefits, bonus paid out, all RSUs vested, regardless of years of service. Something to keep in mind when being told that "nothing has changed, our goals and product plans remain the same, continue working as if we are not being acquired". Sometime next year, leadership will be relaxing on yachts or hanging out in Tahoe fat and happy, not desperately scrambling for a new job.
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I've dealt with two VPs in my BU and they both were good a presenting themselves but they lacked industry knowledge. If I had to hire them it would be as managers, although I don't know that they could perform in jobs where they had to do real work. When I have had to listen to them present at company meetings I cringe.
In our part of VMware our VP won't talk about layoffs, in BU wide meetings claims nothing will change due to Broadcom, claims we do not need to change our products at all, tells us to tell customers and partners everything is fine. But we all know it's not! We all know Broadcom only cares about the big spending customers and will stop innovating. Are these VPs acting like everything is the way it was before Broadcom acting professional? Or are they lying to us knowing they are getting a big payoff?
Which VP is lying? Which VP has said there will be no lay offs ?
Their expectation is that we act professionally and I’m fine with that.
I don't think this has anything to do with envy. The poster was pointing out that management is lying to us with no personal risk. WE ALL KNOW that Broadcom is going to gut VMware. But most management is telling us that everything is fine, business is proceeding as usual, all product plans continue as if nothing happened. They are going to be lavishly wealthy while we watch it all burn down and have to scramble for cover. That's the point. And anyone who thinks VPs in Silicon Valley deserve their positions due to hard work etc has not met many!
Whining about not being a VP? Simple solve, do what it takes to become a VP. Envy is a bad trait. In any case, VP or not, it will all work out. Best of luck.
Wow, much wow.
https://www.techspot.com/news/95573-what-has-broadcom-become.html
Enjoy wallowing in your ignorance.
This isnt wrong people it’s in the darn SEC filing. Learn to read people and do your homework.
@pty+1ii7kKIU If you think Broadcom doesn’t operate like a PE firm…. You really don’t get it….lmfao
This is for executives - not for VP’s. This is false and VP’s will get the same severance they get at VMW. Nothing more and nothing less.
"It is a shame that it takes a private equity takeover to bring it to the forefront "
What are you talking about? this isnt Private Equity. This is a public company buying another public company. This simple sentence shows your lack of understanding of the whole process and makes your comment seem ignorant.
I don't know if it is true, but wouldn't be surprised.
This type of cr-p has to stop, it is just so obvious that it is unfair.
It is a shame that it takes a private equity takeover to bring it to the forefront as this type of lopsided treatment of 'VP's is total BS even in the best of times. That goes double for the comp packages for Silicon Valley execs, in particular change in control clauses.
Good thing for the VPs that Mr. Hack Bland who got paid $103 M in 2017.
https://money.com/highest-paid-ceo-america-hock-tan/
Why in the he-l does this guy continue to sc--w employees in the wake of his acquisitions? it is some sort of blood-sport?
This is annoying only as long as you are not VP. Some day you could be one and enjoy the same benefits. Becoming a VP is no joke.
VPs are strategically more important than you to the business,
ROFLMAO.
If the VPs were so much better and strategically important, then vmware would not be in the process of being purchased by a vulture capitalist company because they would have had the company soaring to record heights. Instead, we had people who were responsible for the recall of two tactically important products being promoted.
If they are getting huge payouts it's because of cronyism, not value.
Please provide the source of this VP severance package info.
Guy?! Did you just misgender the OP? ;) Anyways, I heard this is the policy too. And would it not be wondrous if any of this was really based on who is "the fittest"?
I think this guy is just making it up. That is what he thinks VPs will get. And they will get a nice severance, but at least come with info, not guesses.
Darwinian?! I don't know about this VP severance policy but having worked in Silicon Valley for a long time I can assure you that none of this is Darwinian. I think the point the OP was making is they are telling you it's business as usual when in reality for them it's going to be vacation and no cares about anything they are telling you to do. They are not leading, they are fleecing.
You’re annoyed because VPs are strategically more important than you to the business, have more experience and knowledge that commands a higher wage, and in this case, a preferential golden parachute ? Be annoyed if you believe you have comparable competencies, if not, take it on the chin and read some of Darwin’s work in biological evolution.