Thread regarding VMware layoffs

It's not as sh---y as the new PEP cycle for Business Operations who are no longer getting raises or promotions, but a cr-ppy RSU grant or retention bonus (of maybe $1000) until we're laid off after the acquisition.

MD is such a greedy tool. He doesn’t have enough money so instead of running a business, he runs a company into the ground by selling the the pond scûm which is Hock. Make me sick to see such greed in action. On MD’s grave it should say, “rich man, total asshöle”

Anyway I can't really understand why people always complain especially here. We have the opportunity to take 50% of our bonus in 4 months instead of waiting for 10 months.
And at this point we take it even in case of layoff.

Also apparently is written that managers don't have any decisional power on it for this year, so it is basically money for everybody as it doesn't depend on performance at all.

We should all be happy about this both if we are still here next year or not.
And if you think about it is basically like more money. As in 2023 we took the full bonus in April and now 50% of bonus for 2024, and in 2024 (if we are still here) we will take 50% of 2024 and 50% for 2025!

This site provides the opportunity to parse additional information, true/false, so that we can better plan our lives. Yes, it can have a bit of an "edge", but what's to be expected, given the situation

The plan since early last year was to return to this plan in the first full
year after being unwound from Dell.

I can accept this explanation.

But, management could've done a tad of work and presented this reversal with more clarity.

Don’t agree with the 10% being based on DEI. I can’t influence that.

I realize this is the nature of this site, but everything is not a conspiracy. Michael Dell pushed the move to annual bonuses over the bi-annual payments. Nobody liked it, including Raghu. The plan since early last year was to return to this plan in the first full year after being unwound from Dell. That's all this is.

How else are you supposed to keep the current employees engaged? I actually said this to myself yesterday just before the email came, “what’s the point in worrying about billing these hours since there will be no more bonus anyway”. I’m sure a lot of people thought the same thing. Paying these bonuses is going to cost less than the loss in productivity. That is assuming that it’s funded at a reasonable %.

Bottom line is, it is coming and date seem more certain now.

I don't see a date looming at all.
The EU, UK and USA are looking into structural changes to allow this deal to pass.
We will have to wait and see if BC make structural changes to make sure the playing field after acquisition is level?

I see this as both good and bad news. We will all get the bonus before being layoff any day after Sept. And this is a sign that, the layoff going to be massive from top to bottom, so split the cash before it happens for everyone. I highly doubt employees leaving right now have any impact or concern on VMW plus, not easy to find a new role out there and likely lower pay. Worse is yet to come toward the year end, so, being new in a new company is actually worse. The Sales exec that left is another sign. Perhaps being forced out with good deal or refuse to play the grim reaper role. Bottom line is, it is coming and date seem more certain now.

If it is for retention, why not make it conditional on the acquisition date?

I haven’t seen a comm either but a search in source produced the information.

Didn’t see any comm

Might want to start looking for a new job there, mate.

Which new plan are you refering to ? Didn’t see any comm

Correct, it’s a method of retention.

Who cares. Thanks Betsy.

It’s just to keep the company going until BC takes over so they are probably worried about that. T&Cs supposed to be the same for first year anyway

I see it as lots of folks have just passed their Bonus payout and on June 1st there is a large cliff from RSU packages that were given in 2020. (That old plan paid out RSUs on June 1 and December1). Since then they have changed it twice and there were differently qrtly vests at different dates spread out more.

So, folks looking that the year while thinking of the acquisition, see they had their bonus coming then the vests (in some cases 2) that hit on June 1st. I expect to see a lot of "I am giving my notice" after June 1st.

This new bonus plan with a 50% payout in September is to try to keep the talent here and recognize that the bonus, only paid in april, would not be motivating to a company that will likely be sold before the winter.

Just Sayin'