Or may be it's a wake-up call disguised as a slap. Leadership practically saying you are shameless if you are still here (which sadly is true in a way). No promotion, no increment but yes some RSUs coz you are so valuable.
Sh*t show of a “merit” cycle. Long live mediocrity.
"Waiting for my severance as I've been here 10 years"
Ok, fair enough. While that is a very valid reason I do want to emphasis just how gnarly the current tech related job market is. Its bad. Really really bad. I know scores of people who have been laid off in the past years and none of them have landed a new job despite sending out 100's and 100's of resumes. I am just mentioning this because it was just starting to get bad when I left and that was before the mass layoffs. And so for those who might not be in the absolute best financial situation come a layoff it is my advice to consider looking now. Good luck to all of you. Sc--w BC.
Its not us who are shameless. Its Hock who is shameless who is delaying layoffs and keeping us folks waiting forever ;-)
The email is on Source. Look up FY24 Compensation Business Operations.
"I'm not sure why some of you are still there"
Waiting for my severance as I've been here 10 years
Can someone copy/paste the email here?
As someone who left the company early on and check in here occasionally to see what the sauce is currently I'm not sure why some of you are still there. It was made very clear that most departments were going to be eliminated post acquisition. I saw that as an obvious sign to get out of the company. That was almost a year ago and even then it was not easy finding a new job. These days its nearly impossible due to the sheer numbers of laid off tech workers. As much as I hate BC and what they did to VMW they at least gave an obvious warning. Whether this deal goes through or not is now anyone's guess. But what was mentioned by the OP should not be a big surprise.
There were rumors that they are working on a bigger retention plan for business ops teams, due to much too high attrition. Just look at the Legal team- it’s dwindling! But how could this go so wrong?! A two class system, seriously? This won’t retain anyone who’s looking elsewhere.
The 2 groups excluded and not on the list are R&D and GTM. I seem to recall HR Legal Finance and IT being mentioned as duplicative by Hok. So we shouldn’t be surprised but it still stings. They’re giving early warning so use it to your advantage and time your exit. Collect that hard earned $$$!
If you didn't get the email then you're not in Business Operations
Email was sent at 8:45 pm GMT
I didn’t get an email nor can I see this in source.
Which 2 ops groups are being spoken about?
This is the first time they’ve semi-directly mentioned that all ops, except for the 2 groups listed, will not be retained after acquisition.
Those 2 groups + R n D + sales will be eligible for cash bonus and pay increases and promotions
Many companies are not giving increase in salary this year (for work done last year) due to inflation and increasing rates. Also, fear of recession. But the labor market is still strong.