Wondering how are folks feeling after a couple of days?
BC, Transition, Package?
I started at BC for security...moved to
Transition(mahem) as my preferred choice.....
Day1 package seems more appealing to me now.
Any folks feeling the same?
20 replies (most recent on top)
The original question here is just kind of weird. Really, the only way you get a choice is a) leave now or b) speak with you manager to see if you can get on the list for day 1 severance. It is otherwise out of your hands. I would say though if you want to take action, give B a shot because that might free up a spot for a coworker who would prefer to stay (though not sure if B is really something that would have any effect).
"""Getting back to point......
What email are hoping for?"""
I or concensus ?
Getting back to point......
What email are hoping for?
" I received retention RSUs few weeks back which are due for vesting in March 24. Do they issue those incase of layoff?"
Retention RSUs? Can you please explain. If you receive these the name suggests you are safe.....
The key part is this statement which clearly says that members of the previously safe status-quo VMW hierarchy will not be allowed to choose their favorite employees. This brings an end to the era of leadership that 'fails to lead' or deliver any meaningful value.
"Managers will be treated the same as other employees and are generally unlikely to know the status of themselves or their team members in advance."
“Transition employees” will not become BC staff but direct contractors (1099s). BC has templates for these type of hires agreement which include early termination with no penalty for BC. That helps BC terminate at anytime those transition folks who are no longer needed.
Do not believe that a transition contract is a 6-month “free ride”. Those detected checking out will get kicked out quickly.
Every acquisition Broadcom (previously Avago) has followed this same model. Just so people know, they have already decided where 90%+ are going (stay, temporary stay, gone day 1). It is nothing personal, Broadcoms business model is to buy companies with incompetent management but sticky products. They keep that BUs with successful products, sell the garbage divisions that play around using corporate money to other stupid companies, and force the remaining division leads too become WAY more profitable by dumping the people that do nothing. The old VMWare management will be resistant but those that don’t follow the model will “retire” and new GMs will take over that do follow the model. Rinse, repeat.
It doesn't matter how I feel, seeing is what happens won't be my choice.
If the outcome isn't what I want I'll deal with it, if it is what I want then great.
I think most of us got retention RSU in last Nov. Still getting retention RSU?
What’s unclear to me is if you are in the transition package, do you become a contractor (HCL) or do you keep going as a BC employee (same benefits and existing RSU vesting schedule). I’d be curious to know.
"I received retention RSUs few weeks back which are due for vesting in March 24. Do they issue those incase of layoff?"
I too received a retention package a short while back, and if your paperwork reads anything like mine, if the company decides to terminate you for any other reason than "for cause", your full retention package immediately accelerates and becomes payable in full. I suggest you re-read the retention offer carefully, as it should address this topic.
I stole Magoo’s crumpled shirt after he took it off. Can I sell it for RSU options it on eBay after the acquisition? This isn’t covered in the Stock FAQ. Much thanks, such money.
I received retention RSUs few weeks back which are due for vesting in March 24. Do they issue those incase of layoff?
“No severance with transition, regular salary and then a bonus if you stay until the required date. That’s it folks! We know….”
THIS IS WRONG. After your transition period you are let go with standard severance.
No severance with transition, regular salary and then a bonus if you stay until the required date. That’s it folks! We know….
"What makes you think you get severance on top of transition? I haven't seen a single official document say that"
I believe wires are crossed or OP's comment was not clear?
It's a very trying time for VMware employees. How are people feeling about the email mid October?
The way transition works is that you get a future date that you’ll be terminated. For example you may get a 9 month transition offer. After the 9 months you’ll get your normal severance package and then an additional transition bonus for the 9 months you worked (which i believe is 50% of your pay for the 9 month period. So essentially you make time-and-a-half for the 9 months)
This is how it worked with the CA acquisition anyway. In fact some people were pi---d because people got transition bonuses and then instead of being let go they were asked to stay! Double dip where possible!
It seems to me that people that take the transition, will be working on finding their next job, essentially quite quitting. What's the incentive to actually transition other that it buys you time.
What makes you think you get severance on top of transition? I haven't seen a single official document say that.
Transition is the better deal because you get the transition bonus and your normal
Severance and there’s some non zero chance that during transition Broadcom will decide to keep you on in which case you won’t get your severance but you’ll still get your transition bonus.
The only world in which a day 1 release is better than transition is if you have a job opportunity lined up and you just want your severance and then split.
If you are faced with having to find another job and have an opportunity to job hunt while Broadcom is paying you then take it !