Seven months since the acquisition was announced our team has halved - part through attrition and part through layoffs. If it continues like this, our entire team will be gone before the merger even goes through. Well played by Broadcom, I guess. They get to spend much less on severance like this.
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Depends on where in CS. Tam is contract based so they need people to fill those spots same with success 360. Free services on the other hand aren't hiring as quickly or they are shuffling resources around.
All that is well said, though I think Hock and Co. are the sc-m of the earth. I’m wishing for the deal to fall through and for a non private equity inspired leader to whip VMware into shape.
Agreed that the current c-suite is toast.
"Probably a new CFO though he may make the cut"
No way Zane will stay on. After they chose magoo over him, the light drained from his eyes. They should have given it to him, but they didn't. So now Zane is just serving time. He's doing the job, we all are. But he's just serving time.
Which BU? Which location?
My team has grown in the last 7 months / 12 months. Customer Success EMEA.
Agree with the fact there is fat to be trimmed.
One way or another this will be done within the next 6 months and VMW will not be the same.
Either a regulatory agency will stop it, or they wont. But change is coming.
Even if they do stop the deal, everyone here should be ready for HUGE changes when the acquisition is quashed.
Broadcom showed that were over valued, spending too much, spending int he wrong places, inefficient operationally, inefficient in sales process, back office process, etc.. Remember the "go shop period"... there were no better offers. And while Twitter may be a dumpster fire two VC guys I spoke to said that if nothing else Elon is showing the tech companies that 5 layers of management and DEI is not good for profit... It's becoming a dirty secret in the investment world that most of us are bloated way too far with feel good sh-t.
So either broadcom buys us, OR you can BET ALL YOUR CASH, that new mgmt will be brought in, and be tasked to recover the stock price and get the numbers in order.
There is NO scenario where the BCOM deal falls through, Magu keeps being CEO, we hire back some of the DEI folks, and go back to business the same way we did before.
There is ZERO chance of that happening.
If the deal falls through new CEO, new COO, new president, then within months, new GMs at business units. Probably a new CFO though he may make the cut. And cuts and restructuring across the board will be going on for months and months.
Everyone be careful what you wish for.
Reputation is fu---d. I am in sales and I already have customers that will churn / not renew simply due to the fear of bcom - or even if that fails ... the realisation that this could happen given the current vmware finances - they run ... time will tell.
That is what I feared when the acquisition was announced as I have seen this plenty of times in previous companies. For different reasons people don't want to stick around and find out what may or may not happen.
I left for the same reason. My issue with 'waiting' is simply that the current market isn't great in general and you can have essentially the choice between waiting and potentially have 1000s as a competition (if the suggested % of layoffs can be believed) compared to leave now and have single digit competitions.
At the end of the day the individual is responsible for their own future / career so the decision can only be done by said individual.
But one thing is obvious by talking to guys I still know that are with vmware (anywhere between 4 and 20 years), damage is done. VERY good talent has left and moved one so bcom or not - it won't be the same as it was going forward.
What vmware needs is a CEO that is able to wear properly fitted glasses and know how to talk without trying to lie. Right now that isn't the case.
Do you know what's really funny? This deal could very well fall through, despite Hock's public displays of confidence. And if it does, we will have spent a year allowing it to destroy the company and our brand and expelling top talent.
The EU, US, and UK have extremely valid concerns about what this deal could mean from an anti-trust and conglomerate effects standpoint, and governments rightfully seem to have more of an appetite for resisting BIG-tech and further consolidations.
And for those who are going to argue Hock is confident it will go through, Hock was also confident the EU wouldn't do a second look, so don't put faith in what he thinks. Hock is a pariah in the regulatory world. Sure, shareholders love him, but that's about it.
Which BU?