Given the fairly recent huge retention bonuses given to PJ & SM to keep them at the helm of the ship they’re running aground, it would be a nice gesture if they gave the CIC package as severance for the imminent lay-off victims. Not saying I’ve heard this, just saying it would be a humanitarian move on their part.
For those “on the list,” this could mean the difference between their wives leaving them and losing status as leader of the pack with their dogs.
If they give CIC severance then they have to let go of more people. Remember the target is $1bn savings. If you shovel over money to people, that's more people you have to layoff.
@fwi If you have to ask, then you are not a Q employee.
It won‘t be CIC, because if Q and Broadcom reach a mutual agreement, then Q will handle most layoffs before the merger.
what is CIC?
Leader of the pack,
The SEC filing says a takeover of a board majority constitutes a CIC. There might be a distinction between the 4-member change vs. 6-member change in this regard. However, if the company splits hairs on this too much they will have a class action lawsuit from the terminated employees on their hands. BRCM has a gun to their head already and hard to not see a change in control already in progress.