It’s all I’m doing since the transition to Broadcom. Doing minimal work, filling my time with house and family time, not seeing customers. My manager is ok with it, he’s doing the same. I’m paid extremely well which is a little embarrassing. I was a Principal SE at VMware. I’m 50 yrs old so doubt I’ll get anything better. Feels a bit weird but I’m ok with it. Are others in similar boat ?
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In other news, Broadcom is issuing another 10 Billion in bonds. They just raised 5 Billion in the last quarter. Locking up interest rates by issuing bonds gives some predictability to the interest enormous expense The fed just stated to cut rates aggressively. But Broadcom feels the interest may go up on the long end? The 5 year and 10 year bonds. I feel the long rates are going to go up. The long end is already going up even though the fed is cutting overnight rates. This is because the market feels the fed is just playing games. Cutting rates when they are saying the inflation is still too high and the economy is too hot. Broadcom took on too much debt. The interest rates are only going up. Thanks Hock for funding our retirement along with his.
Broadcom also clarified that it is not interested in buying Intel. Qualcomm seems interested. But I guess Intel will be rescued by the government. What is another few trillion dollars to rescue the zombies like Intel, Boeing, GM, Ford and most of the bankrupt banks etc etc etc.
However, don't assume you'll be on the payroll to claim your deferred AVGO RSUs.
No shït, stay in the game as long as you can if there is a huge RSU upside.
"People are rich enough to retire. The deal was very good."
Okay for the RSUs you can sell now. However, don't assume you'll be on the payroll to claim your deferred AVGO RSUs. Many senior employees won't be around once a lower cost person can do their work. It's inevitable... learn from the CA and Symantec example.
Also, VMW employees who were transferred to KKR (Omnissa) lost all their deferred RSUs.
Never ask a CIO to explain why they're still a VMware customer. They will also lie.
Never ask the passenger next to you how much they paid for the flight. Never ask anyone their salary. Trust me, you don't want to know the salary of "junior" people.
VCF9 is the way!
"According to the other Broadcom Software employees (CA and Symantec), it lasts as long as enough inept CIOs are willing to pay a high price for our old software apps. It's pitiful but true."
It lasts as long as AVGO can maintain shareholders' profitability. That's what HT cares about. Employees are merely a means to an end. We're all expendable, when necessary.
Per quarter I mean
I’m a P5 SE and I get 250 RSU per month
"I call mega BS on that 400 shares every 3 months."
It isn't impossible for P6. I am P4 and getting 100 shares vesting quarterly.
Question is what rationale was used to allocate the shares? The sad part is loads of these people getting huge RSUs are probably doing fu-k all...
I'm glad you're all having a nice time.
Down here in the TSE trenches, we're doing actual work. And we're still getting sh1t from customers, managers, SAMs and Directors who couldn't care less.
"Get your numbers up!"
We're not get RSU refreshers, we're not getting pay rises and there's no promotions.
But you go off, King.
when RTO you have to look fake busy, it's stressful.
I suggest you become the new snack and coffee manager for the office. Always a fresh pot to make of good coffee vs the sawdust Hock imports from a 4th world country.
You will be a local hero!
I'm in a P6 customer facing role and get 320 shares every 3 months. I wouldn't be surprised by the 400.
Chill'n and Bill'n.....
That's really the only difference between WFH and RTO, the resting part. At WFH you rest, when RTO you have to look fake busy, it's stressful.
People are rich and miserable. When the AI bubble bursts then people will be poor and miserable. People are always miserable.
staff 2 and above got 11,000+ RSUs, which are around 687 vested every 3 months.
This is the way
People are rich enough to retire. The deal was very good. No one knows what is going on. No one knows when they will be fired. The burning platform of Nokia, but everyone is rich. History does not repeat but rhymes.
"The question is how long can it last."
According to the other Broadcom Software employees (CA and Symantec), it lasts as long as enough inept CIOs are willing to pay a high price for our old software apps. It's pitiful but true.
“400 shares vesting every 3 months”
That’s 1600 shares per year that’s $275k per year on current values. That with base pay is a approx $550k per year.
I call mega BS on that 400 shares every 3 months.
“I do absolutely nothing. Join meetings and talk a little. It's fu--ing awesome. I'll take my 400 shares vesting every 3 months.”
This is exactly the same for me and many others in the UK. It’s embarrassing but I’m ok with it because to me it’s free money and I can persue my other hobbies. The question is how long can it last. I feel it won’t get noticed as everyone is sticking to the script, almost collaborating and saying ‘I’m so busy’ when they really are not. My manager is same he told me on the side just accept it ‘I won’t tell anyone’
Post from TheLayoff.com
You vest 400 shares every 3 months and have no responsibilities other than sitting in on a meeting? No deliverables? What is your position?
Elon paid 44 Billion for Twitter and destroyed the company by laying off 80% on day one. Got rid of all customers. Money is worth nothing. Elon net worth moves every day by 10 billion. Elon, Theil and the rest of the gang are just CIA assets. Theil's company Palantir was funded by CIA and CIA was the only customer for the first two years of its existance. I think Broadcom is also in the same league. Gov Cloud and other related CIA interests. Twitter is just a propaganda tool. Anything can happen with VMware. The corruption in America has gone beyond any limit and the Chinese who have Trillions of dollars are big players in America. Any commercial business aspects are highly superfluous. CIA has unlimited budget and of course they have never passed an audit in their history.
This is the way!
I do absolutely nothing. Join meetings and talk a little. It's fu--ing awesome. I'll take my 400 shares vesting every 3 months.
Not at all in the same boat. Very minimal collaboration since the acquisition because they are out for themselves and don’t want to be on the layoff list. Most meetings are useless and unproductive. Very different culture than the VMware days. It’s depressing.
That's how monopolies work. There are so many resting and vesting in Broadcom hardware for decades. They need to keep up the appearance of employing so many people to show that they are a big company.
Don’t fret, you’ll be laid off soon enough.