Broadcom will get rid of about 70% of an acquired company within 2 years. They usually cut 40% immediately and then transition a bunch in the next 6-12 months. After those two big cuts they have already implemented the ranking system to get rid of rank 3's or people on the cusp (bordering 2-3).
Everyone competes against someone and it's a toxic culture. Some love it (if you are a top performer, stick around and get rewarded!) but most do not like it. It's a trade off... command and control, boring work, no remote culture, butts in seats and badge reports, but you get steady income and RSUs (stock price doing great)... but you have to be in a profitable BU and role.
Engineers are compensated very well once they are IV or V+.