So there's rumors circulating that Hock Tan and Avago is working quickly to try to get the acquisition this year instead of next year. The motivation of closing this year is so that nexst year's Broadcom bonus usually paid in Jan/Feb won't end up being paid at all. And if the deal closes in October, the last ESPP grant wont happen either (the one that is suppose to give you a $20/share instant capital gains). If true, this foreshadows how well your new master will treat year after the acquistion is completed....
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With LSI buyout, we still got our bonus. They prorated it for the number of months we were on the LSI plan and then put us on the Avago plan (which is more generous than LSI was). They also cut our ESPP cycle short, but whatever money was in there was used to buy LSI stock before the deal closed. Avago takes more service years to get the same vacation as LSI, so anyone under 10 years got a cut in accrual of vacation.
It's so sad to hear how companies continue to screw over the very people that work in the trenches I guess they feel that people are desparate and will take anything. What happened to ethics and helping the working class? This is the true ugliness of capitalism.
based on what it did to LSI and Emulex- avgo will cut broad down to it's bones. for those that survives the cut will not be able to take your pto because of your heavier work loads. you can't accumulate more pto until your balance comes down below avgo max which is very low. you have a catch 22 situation. the only way to cash out your excess is when you leave.
October close would be pretty difficult I think. Closing before next years raise / bonus cycle seems likely at this point.
there's no smoke without fire
It figures. Another A-hole move from A-hole company Avago.... I guess this is part of the $750 million "cost-savings synergies" Hock was talking about...