Thread regarding VMware layoffs

"Certainly a lot of the older folks with long tenure, good news is that they likely won't be competing with us for the next job, a lot of them will just pull forward their retirement!"

Note, with Broacom's track record of post-layoff next steps, lots of the remaining employees will be placed on Performance Improvement Plans and get no severance if they're fired for cause. Therefore, I'd postpone any 'survival celebration' if I were you.

"I've been told that if one is to be let go, they will remain an employee through the end of the year and will recieve a severence then. so two months of pay without working, then two month severence plus one week for every year, capped at twelve years."

Man, if that's the case (I've heard a few employees say the same internally, but nobody who would really "know" for sure), there are going to be a LOT of people hoping for a "Your fired" next Monday (or whenever it happens).

Assuming it's next Monday, it's around 11 weeks from then until New Years. Then you get another 8 weeks severance, plus a possible 0-12 weeks depending on years of service. Best case (12 years), you'd get 11+8+12 = 31 weeks?!

Certainly a lot of the older folks with long tenure, good news is that they likely won't be competing with us for the next job, a lot of them will just pull forward their retirement!

I've been told that if one is to be let go, they will remain an employee through the end of the year and will recieve a severence then. so two months of pay without working, then two month severence plus one week for every year, capped at twelve years.

"The company MAY or MAY NOT provide a notice period which is completely separate from severance."

Why? Hock has to claw back all the unanticipated legal fee costs associated with the extended regulatory assessments. AVGO is now eager to reduce headcount ASAP.

"VMware is being purchased at peak bloat."

But that bloat is about to be extracted, starting at the VP and Director levels. Progress!

When the lumpsum payment is paid isn't clear though, could be Dec 29 or could be >early Jan.

The involuntary separation agreement is pretty clear on this:

within 31 calendar days after the Termination date or if that date falls in the next calendar year then within Mar 15 of the next calendar year following the Termination date. And severance will be paid after all assets and liabilities and disclosures are settled with the company. So this will be paid out in 2024 IF BC decides to give a notice period which is totally optional.

Also clearly stated in the involuntary separation agreement :

The company MAY or MAY NOT provide a notice period which is completely separate from severance. Employees during notice period will be on par with regular employees for wages and benefits.

The agreement defines a notice period as optional which BC may or may not choose to give. However as stated in the OP, BC has almost always given a notice period in past acquisitions so it's highly likely that they are going to give the standard 60 day notice this time as well.

If Dec 29 is the last date on payroll then am I correct to assume that severance will be >the standard 2 months + 1 wk/yr paid out after that (either in the last paycheck or >separately after?).

Yes, that is correct. If you read the involuntary separation agreement it clearly states this. You will be paid a lumpsum of 2 months base pay (4 if required to work during notice period) + 1 week/yr.

Being on payroll during notice period is not paid as a lumpsum but rather is just regular payroll. When the lumpsum payment is paid isn't clear though, could be Dec 29 or could be early Jan.

If Dec 29 is the last date on payroll then am I correct to assume that severance will be the standard 2 months + 1 wk/yr paid out after that (either in the last paycheck or separately after?).

Being on payroll during notification period usually isn't the definition of a "severance" which is a lumpsum payment given at once and the VMW involuntary separation agreement does not mention anything of severance being in the form of a "notice".

There will be an on-prem software renaissance at VMW once Hock gains control.

Comments submitted to the EU regulators revealed that he knows the truth about the repeated SaaS failures at VMW. The window of opportunity for SaaS growth is closed.

I was at CA when the cull happened. Mike Gregoire did his best to transition us to SaaS and the cloud. But the truth is that our money even before Broadcom came from Mainframe. At CA world, I had customers repeatedly mention their discomfort with the push to cloud with the focus shifting away from mainframe. We actually had a good product via acquisition but the team could not execute. I repeat. Hock only cares about revenue. Anyone in cloud should run for the next job.

Remember that Broadcom makes money with mainframe CA even today. They will ki-l anything cloud. It just does not make money and cannot compete with the public cloud. They will treat vsphere like mainframe and mint money for the next decade.

What else came out of said OCTO meeting?

So I wonder if severance payments start from the last day in office or the actual termination date

Already announced in OCTO meeting that last day for those laid off is Dec 29

Remember

CA had 20k+ employees at their peak in the early 2000’s and by the time Broadcom came along CA had already spent years culling headcount down to $11k.

VMware is being purchased at peak bloat.

Good luck in the Squid Games!

"If we apply the same formula to VMW then out of 37k employees once the layoffs are done we will be looking at a remaining VMW workforce of only 9200 that will be joining broadcom. yikes !!"

It's difficult to predict what the final number will be, but based on the experience of the people who remain at Broadcom Software. This is a company with a proven Private Equity business model. It's all about driving revenue and extracting profit. If that's appealing to you, or you can tolerate being on a personal performance treadmill, then you'll like it.

So from 11000 employees only 4800 remained out of which then after the layoffs only 2800 remained. That means only 25% of the original CA org remained. If we apply the same formula to VMW then out of 37k employees once the layoffs are done we will be looking at a remaining VMW workforce of only 9200 that will be joining broadcom. yikes !!

Following the CA acquisition by Broadcom, most of the original marketing organization was let go. In a cost-saving move, Broadcom Software hired several retired ex-IBM employees to lead the process of milking the CA software installed base.

My point: AVGO doesn't need many VMW employees to populate marketing or sales. They only require a few people to extract the most cash from inept customer CEOs who accept raised license renewal prices and a continued decline in technical support. This is their approach and track record. What's remarkable is that it has proven to be successful.

Broadcom was very rough with the CA acquisition. Anything cloud was gone.

The link enumerated;

Broadcom Inc. plans to lay off nearly 2,000 of the 4,837 U.S. workers it inherited when it acquired CA Technologies, according to internal documents obtained by Newsday.
The $18.9 billion deal for Manhattan-based CA, a maker of enterprise software for mainframe computers, closed on Monday.
On Wednesday, Broadcom sent emails to all U.S. employees of its CA unit, designating 40.9 percent for layoffs and severance packages and the remaining 2,861 for retention.
Local employees said Wednesday they believed more than 300 workers at CA's Islandia office were losing their jobs, based on documents they received from the company. The office, which was CA's headquarters until 2014, had about 1,000 workers as of May.
One Islandia employee said she received an email from San Jose, California-based Broadcom with news of the impending layoff.
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"Your last day in the office will be November 9, 2018," the email said. "Your actual termination date will be February 08, 2019." The employee asked not to be identified.
"Please do not name me but this story needs to be told!" she said.
A Broadcom spokesperson declined to comment Thursday on the layoff numbers or the emails sent to employees.
"These are difficult, but necessary decisions and we work with impacted employees to help ensure they have appropriate services and support," the spokesperson said.
On Wednesday night, scores of CA employees--some being retained and others being laid off--crowded a TGI Fridays in Islandia to reminisce.
CA sold the 778,000-square-foot Islandia facility in 2006, and signed a lease on the building through August 2021 that calls for rent of about $1.4 million per month as of November, according to a Securities and Exchange Commission filing.
Another local employee, who asked not to be named because of concerns about jeopardizing her severance package, said operations in Islandia would be condensed from four of the building's six floors to two.
The company e-mails sent to employees included an 88-page chart listing all U.S. jobs by title, supervisor, unit name, and the age of the employee. Each job also had a designation: "no" for employees who are being retained and "yes" for the 1,976 employees selected for separation.
The list began with 52-year-old chief executive Michael Gregoire, who was designated for separation. A change-in-control trigger in the contracts of Gregoire and other top CA executives makes them eligible for payments worth millions of dollars.
In March, President Donald Trump blocked Broadcom's planned acquisition of mobile phone chipmaker Qualcomm Inc., citing national security concerns.
The following month, Broadcom moved its headquarters from Singapore to California, allowing it to skirt that issue in its acquisition of CA.
As of May, CA had about 11,000 employees worldwide.

i dont think so, get the f*ck out.

everybody else, dont open up these fu----g links

fu-k these foos

Verbiage from email to CA technologies staff:

"Your last day in the office will be November 9, 2018," the email said. "Your actual >termination date will be February 08, 2019." The employee asked not to be identified.

Source: https://archive.ph/vZGVk