Thread regarding VMware layoffs

@1vqc+1phWxOTm there are consequences if the deal is made without China's approval that HT may not make:

Chinese law prohibits closing any part of the deal prior to approval. SAMR will not allow the parties to hold separate the China portion of a deal while closing elsewhere or “park” China assets with a financial buyer with no China revenues in order to circumvent the filing obligation.
China recently increased the fines for g-n-jumping (closing before approval) tenfold to about $700,000 for cases that do not pose issues. For a high-profile transaction raising real competition or industrial policy concerns, the fine can now be up to 10% of the acquirer’s global turnover in the previous year. In addition, SAMR can, in theory, order the parties to unwind the transaction and/or revert to the status quo prior to the transaction, although that power has only been used once in China’s merger review history, and that was done in a domestic combination.

Nobody needs an offer to avoid unemployment.

The default position is that Broadcom is buying the legal entity that you work for, so they're also responsible for your contract of employment as-is.

Making you an offer gets you onto a Broadcom contract of employment.

It’s a multi-level sc--w up.

1 they pre-maturely handed out offers.

2. Some people didn’t get it. Which indicated to these “some “ people that they would be laid off. Which screwed up their morale.
3. Now China is stalling the acquisition, so it drags it further. These low morale people are not going to be contributing obviously to the company. They throws further throws money , customer reputation in the drain.
4. Tomorrow if the deals falls apart, the people who received offers feel like they are fools. They lose interest.

4 leaders who said their groups are safe because they are r&d / engineering/ already has attrition/blah blah, now completely look like fools. Because none of the words they have to their teams have been kept. So eventually leads feel they have been fooled and they lose interest.

Overall it becomes a pure bull crack.

HT is currently in talks with the Chinese government. He‘ll make it, but with a little delay. Hang in there, folks.

Layoff is costly. BC probaby does not want to take CB and EUC.

Clearly, the way this acquisition has played out thus far was not intentional.

This deal is being executed with surgical prescription.

Hock and his team are not going to inherit the VMW mess as-is, there will be changes.

The whole China regulatory review situation is a setback, and now the original plan has to evolve into something else. Clearly, the way this acquisition has played out thus far was not intentional. It's a mess because they made assumptions without contingencies.

They'll need time to reset and redirect their efforts. Wait and see... Plan B is likely coming soon.

I’m really hoping that EUC has a buyer ready to take us on day one. After this mess, it would be a blessing to not have to work for Broadcom.

Offers went out on Monday, however most of the offers went out tuesday. That allows 3 days for individuals to reject the offer which means positions may open up for other team members by Friday. They've been very clear about positions opening up and finding as many people a role as they can.

They may have intended this approach to correspond with normal BU offer letter slow-rolls throughout the company for the next few weeks.

S…. Show. Period.

There is no point giving offers on Thursday and Friday. People get additional Saturday and Sunday in addition to the allowed 3 business days. I am sure they don't want people to think more than they want lol. There is still hope on Monday 30th and Tuesday 31st for people still waiting.

meh...many things at play

1. Broadcom HR is a joke, there's 3 people on staff trying to deal with things
2. they're still shopping around piece parts of VMW, so holding off on stuff,
3. like many things that relate to people and culture at Broadcom, people don't matter

Im at Broadcom now...

Welcome aboard and though you're treated like $hit, the comp is great.

@bni+1phWxOTm

Tell me you have no idea how things work without telling me you have no idea.......

They can legally buy the company without China approval. They may not be able to do business as Broadcom+vmware until approval. This happens all the time and the companys play pretend they are independent until China approves. Happened with emc as well.

So, let's be clear. The management story of "offers are coming out all week and in waves" was deliberately misleading. You may call it a lie without being too far off.
Broadcom said internally that offers are only going out on Monday and Tuesday in six countries. Period. There was
no plan ever for offers on Wed, Thursday or Friday. Dismissals in those countries will come after close. Any type of letter in any of the other countries will also come after the close.
There was a sc--w up somewhere because carbon black, euc, and some other BUs were also delayed until at least next week. Suspect this has something to do with them figuring out the name of the legal entity that employs those people. Or maybe they have buyers lined up and these folks will never get a broadcom offer, but one from the acquiring entity.
Why anybody thought it is necessary to split the timing of offer letters and severance letters is not known. Maybe they want to figure out who will decline their offer so that they can convert planned dismissals into offers in a few days. Who knows?
But bcom advised all vmware managers to keep saying that letters come in waves
That was never really true and it is clearly causing a lot of people a lot of stress.
So, if you are in a country that has received letters this week. And you are in a BU in which other people received letters. And you have not received yours yet, you are not going to be employed after the close, unless they give you an offer to replace someone who declined theirs.

The markets don't think that the acquisition will close on Monday. It may not close at all. We will know by November 26th. If the deal fails, all broadcom letters are null and void and everybody is still employed by vmware with their old title, old manager, old compensation, and no new RSUs.

Pure speculation here, but my gut tells me carbon black already has a buyer. They will announce the new owner and spin off As soon as the Broadcom deal closes. It makes the most sense given all the facts.

Its easy. BC does not legally own the business until China approves and therefore can't fire anyone until they legally own it. China has not approved and therefore the offers have stopped. Those are the facts. Its not difficult to understand. BC will send an email if you are canned with severance if they can get China to approve which I don't think they will at this stage due to geopolitics.