I don't care what everybody else says, I've been much happier and more satisfied since we became part of Broadcom. Yes, people are still being laid off but I've noticed that merit actually means something here and if you're good at what you do, you have very little to worry about.
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Lol, some of these responses are insane. Emotional tantrums disguised as commentary. You all work "AT WILL". If it su-ks so bad, just leave - at your own will. And if you don't perform, Broadcom will make you leave at their will.
The complainers are prisoners of their own decision making. sigh.....
Agree with you op a hole f face c su---r
How about all folks in PA office occupy Hockey Tan's office and ask him to step down immediately ? Let the revolutionary ideas flow in this broad. Take action not just bluffing.
Every tech company uses stack ranking: Broadcom and Amazon aren’t unique to do it.
The grass looks greener on the other side but in fact isn’t
Let's be honest - average base salary, good bonus, amazing RSUs, trash brand name - avgo/broadcom lol, no career growth projection, extremely boring work, none/zero innovation, no job security even for high performers, stack ranking as Amazon.
Overall probably better than average, but if you are not only money is BAD.
Definitely not a company for my taste, I can't strive in such culture, I need to do meaningful work, interesting projects or I usually quit. It is actually very similar culture as Amazon except for R&D spending, here it is very limited.
Broadcom is better than being a dealer or random betting/gambling firm, but it is nowhere near a top tier company.
Need to raise prices 400%,
No, make that 500%
Whatever it takes, there is no limit!
If they repay 2 B per quarter it will take 8 years to repay the 64 B debt. At 6.6% the debt doubles in 10 years. In a couple of years we will know if this debt can be repayed ever or the interest payments will overwhelm.
If you know how to make money and pay off debt l, why bother refinance genius??
Why are they issuing bonds if they can repay the debt?
"Free cash flow as a percentage of revenue has declined from 2023 due to higher cash interest expense from debt related to the VMware acquisition
We ended the second quarter with 9.8 billion of cash and 74 billion of gross debt. The weighted average coupon rate and years to maturity of our 48 billion in fixed rate debt is 3.5% and 8.2 years, respectively. The weighted average coupon rate and years to maturity of our 28 billion in floating rate debt is 6.6% and 2.8 years, respectively. During the quarter, we repaid 2 billion of our floating rate debt, and we intend to maintain this quarterly repayment of debt throughout fiscal 2024."
Watch that debt and interest. Work hard and make sure Broadcom repays the debt for acquiring VMware.
The root of the VMware takeover was a leadership team not focused on retooling the company and instead more interested in DEI and investing in the wrong partner solutions. HT strategy is simple enough that he identified the problem and will now make those changes but they will not be significant changes that will promote the companies promise and instead su-k any revenues he can before he ki-ls it.
lol delusional. Plenty of great people have been laid off..
Plenty of not so great people have as well.
All in all VMware moving in a better direction and faster since acquisition but better doesn’t mean good..
just better than the stagnant bs that was pre acquisition
"If you get the axe you won’t see it coming and there is nothing you can do to influence it one way or the other."
Agreed, employees don't matter in the process of extracting maximum profit from a legacy software company like VMware, CA or Symantec. HT will cut more headcount.
If debt can't be refinanced
If you know how to make money and pay off debt l, why bother refinance genius??
If debt can't be refinanced, then more people will be cut. KKR is being loaded up with toxic debt. Not just Omnissa but all the toxic Commercial Real Estate is being dumped on KKR. KKR will go bankrupt first. Then VMware will be reduced to 10% to service the top 100 customers, as the debt matures and the interest payments become too painful. No one buys corporate bonds once the recession hits. The spread is currently 1.5% over treasuries which is very low. The spreads will explode in a recession. The 10 year rate is not going to go down any time soon as deficits are high and inflation will stay high.
Yeah I don’t think so. Competence has nothing to do with it. Decisions are being made at the higher levels for reasons that have nothing to do with you. If you get the axe you won’t see it coming and there is nothing you can do to influence it one way or the other.
merit actually means something here
Young Padawan
If only the people left in charge of VMW had any idea what merit looks like.
I hope Hockey Tan will go to jail one day for destroying American jobs. Shame on that guy. This is not capitalism.
Troll
Director level people are asked to submit fresh stack racking list. Telco and VCF. Not speculation but fact. Take it or leave it.
@op what’s your point in posting here.
I think it's great that you're finding life better overall as part of BC. If you're in the later stages of your career, and can keep your head down to avoid the axe, BC can be a great place to rest and vest and pad your retirement nest egg. However, if you're still early- or mid-career you won't be able to hide the fact you spent years working at the J.C. Penney of the software and cloud industry. How would you position yourself as a strong, competitive candidate for any position at another truly innovative company?
So high off the cope, once the layoff notice hits you will be brought back to reality
Whoever is trusting this great Ponzi scheme company.....god save them. This company only sn---h away American jobs and outsource to Asia. Period.
What merit? No one here has received any merit since starting. You're just making things up to get attention.
Yes, misleading customers is amazing I hope strategic sales can do this forever!
Good news for job lovers. vmware employees count will be reduced to only 7k by Oct 23rd. Start job hunting now since job market is very bad. 10 rounds of interviews still no offers.
Chinese bots are getting creative.
Stop drinking the Kool-Aid. You will get fu---d. It's guaranteed.
Just wait until Hock Fs you in the A. Then see how happy you are. This is a cult company run by a dictator who would pïss on you to save a buck. Can’t wait to read Hock’s obit.
It is good until it lasts, whether you are good at your job has nothing to do with the layoffs. Many top tier folks were let go, you are lucky to be here. Enjoy!
Yes I agree with you a hole