Assuming anyone that has not received a letter can claim severance as their only option tomorrow at 9 PST and hit the market for their next gig. No out for BC and they have to pay 2 months plus 1 week for each year of employment, correct?
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No it doesn't. Severance activates once Broadcom close the acquisition THEN when they want to start the process. Nobody knows when either of those two things will definitely happen.
No layoff tomorrow.
The deal is definitely delayed, not closing tomorrow.
Actually, it will never close. It's over.
There is no other explanation why vmware cancelled the company wide all hands meeting at the very last moment without any valid reason.
They thought China approval would have received and it was supposed to be the farewell party.
After China approval they will need 48 hours to a week more to complete the process of closure.
Folks, don't worry. Nothing is happening tomorrow. No layoff. Business as usual.
BC/VMW joint announcement will come on tuesday.
To be clear, WARN and the referenced severance are only applicable to U.S. employees. VMware is a global company and each region has its own severance and notification policies.
Layoff will trigger WARN. We will stay on payroll for 60 days and then lump sum severance will be paid in Jan 2024
Yet one more unanswered question is TBD. We have no choice but to wait and see if AVGO makes any more last minute adjustments to their prior limited communications.