There have to be. Our whole group didn't get any and I know we're not the only ones. I know Broadcom is layoff-happy when it comes to acquisitions, but even if they wanted to they can't get rid of whole departments just like that. I do hate how little transparency there is to this whole process, though.
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Reality bites.
With the amount being leaked into the public domain, and the acquisition not having actually closed yet, can anyone really be surprised at how much of the macro information has been shared?
@nfs+1pihLw1Q, I am well aware of that. But they won’t get rid of our MO on day 1.
“ I think they've already sent out offers to about 40-50 % of the people. The rest of them have got nothing.”
Offers have only gone to those they legally are allowed to. There’s at least another 40-50 countries we operate in they can’t do squat until it’s a done deal so plenty more offers will be rolled out the second they legally can.
Regardless this is not a ‘one shot’ process, it’s likely we’ll see 25-30% cuts this first round, another 15-20% around April 24 (maybe including those on transitional offers) and another 10-15% this time next year. That’ll take the headcount down by 50%-60% and more in line with Hocks revenue per employee target.
Those RSU bumps many are getting mean nothing if they’re not around to see them vest, which they won’t if they’re laid off in that 12 month time frame and then the base pay cuts they received (and swallowed on the promise of those RSUs) will cover their redundancy packages that BC will have to pay out.
For a small number (the survivors) yes it could end up being great but let no-one kid themselves this is good so far for the majority of employees.
Think you’re maybe not understanding Broadcoms MO. They don’t WANT to deal with ALL our customers. They’re only interested in the top 1500-2000 where the majority revenue comes from and who are locked in so can be milked for everything they can.
I think they've already sent out offers to about 40-50 % of the people. The rest of them have got nothing.
So, this already has happened.
"they can't get rid of whole departments"
Oh, first time here? They can and will get rid of whole departments. Just because you may think your job is important does not mean Broadcom thinks it is or doesn't already have a replacement
“their departments are too lean to deal with all our customers”
Think you’re maybe not understanding Broadcoms MO. They don’t WANT to deal with ALL our customers. They’re only interested in the top 1500-2000 where the majority revenue comes from and who are locked in so can be milked for everything they can.
All others will be chucked out to the channels to deal with, BC will then go lean as they like. When the process is done you’ll probably see at least 50%-60% headcount reduction the next 12-18 months.
Everyone will receive a disposition sooner or later. It's complicated with the number of employees and the laws and process for every country... Have faith that if you're useful and valuable you will likely have a future. Just keep in mind Broadcom doesn't do things that don't generate business value.
Do yourself a favour. Maintain your dignity and self respect. Sc--w BC and VMware, go find something else. You would not treat a dog the way these companies treat their employees.
@eby+1pihLw1Q, their departments are too lean to deal with all our customers. Relax! Offers are on hold because of the 3 business day deadline. They won’t give you the weekend on top!
Some ops teams in India have not received even one offer (FTE or transition)
It is impossible to remove those departments without even transition workforce because the building operations can’t continue.
I’m pretty sure more offers are on their way
It’s not going to end - layoffs will continue in the coming months after the acquisition.
Depending on your function they 100% can drop an entire department. They have existing HR, finance and IT teams (although at least a portion of IT would be expected to get transition for cut over). They also have a legal department, talent acquisition team and marketing department.