I remember when people tried to convince us that we'd be good if we survived the initial, post-acquisition culling. That worked out really well, didn't it?
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10%/yr?
Hock says hold my beer and says 25%/yr
But I think Jack Welch had more business skills other than cutting costs and raising prices. Hock is just an evil guy who "monetizes" what others have built. That means sc--wing everyone and anyone and minimizing innovation to just the minimal necessary. He is the Martin Shkreli of tech, and will have a special place in he1l for his aut1stic waste of life.
Where is Jack Welch when you need him? Fire the bottom 10% performers every year!
KKR is just a toxic dump for their Private Equity brothers. KKR was a big name decades ago. They are just taking those KKR investors to the cleaners now. KKR will go away soon.
OpenAI has 1 billion cash left. At their current burn rate that will last another 10 months. Of course they can raise a few billions more. But need to see who are will to throw money into this bottomless pit with no earnings. Anyone saying that they are still spending on AI capex are getting smoked.
It looks like the quarter is not looking good, and hence the speedup of layoffs. Expect layoffs to accelerate as this AI bubble bursts.
"The clueless leaders are protected by the VMW legacy caste system that continues to exist after the KKR acquisition. Nothing has changed."
One thing has changed, Omnissa employees now expect more headcount cuts in 2024.
Who is still pumping money into the AI trade? Unfortunately, most people. Those who buy the S&P index in their 401k. 30% of all money going into S&P index funds goes into the Mag7 AI trade. So, the AI bubble blew by mechanical factors as the index investing pushes the bubble stocks higher. But that mechanical factors work in reverse as the AI bubble bursts. A lot of this bubble blowing and bursting is inevitable and mechanical.
The AI trade is reversing. NVDA insiders dumped additional 400 million in July alone. It is becoming quiet obvious for everyone what NVDA is seeing. Google was punished for spending 12 Billion on AI in the past quarter and promising to spend 11 Billion every quarter for the rest of the year. Goldman has taken a shot at the AI bubble questioning the ROI on all this capital spend. Many more articles in the financial press since. Every company that will say AI capital spend will be punished. People are sick of hearing about all this capital spend with no corresponding ROI. Just the AI trade lost 1.5 trillion dollars from the recent top. That is equal to the entire stock market of Japan and some portion of the Chinese stock market. The AI trade ran to ridiculous levels with the blow off top with the announcement of 10 for 1 stock split for NVDA and AVGO. Totally a non event that pushed up AVGO from 1450 to 1850. Most of that gains have been given back.
Next week we have more Mag 7 earnings. This could trigger more reversal of AI trade. The Nasdaq is at a critical point of support at a point before the NVDA and AVGO split maddness. If that breaks then we are truly looking into the abyss.
Sell now and you can buy back at 30 in a year. That is if you are still here and think its worth it. Otherwise, you missed the 185 already and lost your job too and would be the worst case scenario.
See many employees with assigned workspaces and fancy monitors who rarely show up. Some managers just badge in, stay for few hours, do nothing or send useless micromanaging messages, and then go home to rest and vest.
I can assure you the last few rounds of layoffs are not cutting the fat. They have cut some significantly valuable resources and have kept their friends. I'm pretty tempted to names on here but I will be respectful.
"this is also fine. Broadcom has Amazon/Meta model, pay high to keep high performers and get rid of the fat"
Showing what a clueless chud you are. I was one of the top performers and have been every year for years, and yet I was still cut.
I wish I could find out when you get cut so I can laugh my a-s off at you.
Nothing you did mattered, you were just a cost to Hock! Anyone still there your time will be up soon! Just do as little work as possible and vest.
"we already got 1/16. Two more months 1/8. "
Some countries got from March.
Plus existing VMW shares you owned now valued much higher that Pet and Raghoo could ever dream of
This is the way!
Spread and bend over then.
"Only thing I don't like is that we are still bloated with managers/directors doing nothing."
Ditto for Omnissa headcount cuts. The clueless leaders are protected by the VMW legacy caste system that continues to exist after the KKR acquisition. Nothing has changed.
This is the way!
My RSU are vesting nice, I know some people won't make it, but this is also fine. Broadcom has Amazon/Meta model, pay high to keep high performers and get rid of the fat. Only thing I don't like is that we are still bloated with managers/directors doing nothing.
@kvh+1tHl9v9P But we already got 1/16. Two more months 1/8. Not sure what is the problem.
either add value or u will be gone pretty simple
Yep..kept telling us to focus on the main thing...meanwhile they were focusing on cashing out with their Golden parachutes...getting all emotional and teary eyed, shedding crocodile tears during All Hands Townhalls.... what a bunch of wa-k jobs...☹️
I already told many others that the RSU given to those who survived the first round, is just a carrot in front of a donkey. No promise you will ever see it. Broadcom is just a special kind of ashole… unnecessarily cruel
We were warned by CA and Symantec employees that layoffs would continue at VMware until HT reached the profitability goal. So, expect more headcount cuts periodically, without prior notice.
Yes