How Broadcom handles acquisitions

First, take emotion out of the equation and realize that Broadcom's purpose is to increase its stock price as much as possible AND run a company as lean as possible with using only as many employees as needed to keep the lights on. They already have the usual staff from legal, HR, tech support, marketing, etc, so these roles will be gone. Employees are the biggest expense and this company is CHEAP!

If you have been there for a long time then you might get a large severance package (unless you're support staff who usually gets outsourced to HCL) and possibly a transition bonus. But...it's a great job market so you might not even want to wait. Start looking immediately.

If your core engineering, then prob be ok if you are a solid senior or higher developer. These senior and principal developers will get like $200k/year just in RSUs. Your salary will not change so if you think you're underpaid now just go somewhere else for a better salary.

Within 6-12 months, they will get rid of almost 70% of your company. Those who survive will get nice RSU packages, but you probably won't see all the money. It really depends how much money your company (and your role) makes them. Get used to google instead of outlook and self-service IT for any hardware issue you have. They also hate work from home so get used to coming into an office every day.

Another important thing is to not trust ANY executive or managers and leaders. They will be trying to save themselves and believe me, they will know very soon who Broadcom will eventually terminate. Don't believe anything they tell you when they put on a fake smile. Directors and above make a ki----g in RSUs (probably double/triple the senior developers). They will throw crumbs at everyone else.

After they gut your company and a bunch of people quit, they will eventually backfill some roles and these outsiders will be making a lot more in salary and RSUs than any of you right now. Many of us from a previous acquisition who were d-mb enough to still stay are seeing new people come in that make at least 30% more in salary. The only response from leadership about the $ differences is love it or leave.

Somebody reposted this from an older thread on the Broadcom board, I think it belongs here as well as a refresher. Copied from @jxn+1gSVvcg5.

Comment! It's anonymous!

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Of course a company is going to run things as cheaply as possible. If you owned the company, would you pay more for your employees than you had to? Would you give them lavish benefits? Would you give them free everything? Of course not, as the owner, every dollar you give to an employee is one less dollar for yourself.….

Sounds a lot like Dell … been there done that.. 9 years working for VMW .. Biggest problem I faced was telling Batman he needed to step off the flying unicorn .. ( speaking truth to power) God save the queen .. S-x Pistols.

Replying to Post ID: @1tli+1jKypcUz

Yes it's an excellent job market.

Is big tech hiring? Clearly not. Do other companies still need virtualization support? Do you think once Octane goes from 300,000+ customers to 1500, the other 298,500+ customers are going to lay down and die?

"Guess we have to go back to physical. Better call HP and order some hardware!"

Im sure you are too young to know this, but at one time US car companies decided they didnt want to make small cars anymore. So they gave up the market. Just gave up and didnt want the business anymore. Thats what let the japanese create small efficient cars and enter into a market they had never been in. Ever drive a toyota? You can thank the 70's version of Octane for giving up that market. It will be the same here.

Replying too Post ID: @qsu+1jKypcUz

Do you think its an excellent job market?
Citrix, AWS, Twitter & Microsoft have all made hundreds/thousands unemployed in the last few weeks/months. A lot of these are going to be similar roles to VMware roles.

And no i didn't get a 7.7% payrise this year at VMware. 5% i got.

F Hock. Really, just F U Mr. Wall Street.

And F Dell for not putting in better leadership.

That was and still is a very informative post. Waiting for the hammer to fall …

Do you guys remember this post:
https://www.thelayoff.com/t/1gTMqgMW

I only want to add a few things to this excellent post.

Of course a company is going to run things as cheaply as possible. If you owned the company, would you pay more for your employees than you had to? Would you give them lavish benefits? Would you give them free everything? Of course not, as the owner, every dollar you give to an employee is one less dollar for yourself.

In the US, it is not simply a good job market. It is a GREAT job market for professionals.

The number of unemployed people is near historic lows.
Unemployment insurance claims is near historic lows. Because people are getting jobs before even bothering to apply for unemployment!
Layoffs and discharges are near historic lows.

Job openings in general were up by 51% from September 2019!
In manufacturing, the number of unfilled openings was up by 84% from three years ago!

For overall private-sector employees, the median annual increase in pay was 7.7% for those who stayed and 15.2% for those who changed jobs.

Who here got a 7.7% raise earlier this year? Want to make more? Leaving is the only way to do that.

Same for other regions. Note countries are categorised e.g smaller EU countries may be in a lower band. UK is classified highly.
Broadcom need you until they need you but you are P.A.I.D!! Base will be the same but RSUs 😳

RSUs. Is this just US?
Are do other regions get RSUs aswell at broadcom? I.e UK staff

Thread regarding VMware layoffs

How Broadcom handles acquisitions

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