Anybody else noticed that there is currently a mass voluntary exodus of seasoned employees, at least those that have not already been cut by the company?
I guess everybody realizes that with the acquisition, there is no room for people who know how to do their jobs and are paid accordingly at CA anymore.
I’ve been getting a lot of LinkedIn notifications of top CA salespeople leaving for other companies. These are people who went to Compass Club year after year. And for every one that left I bet there are 3 interviewing right now.
There must be no new deals closing at the moment other than short term renewals.
You guys are funny with this severance talk. I have heard employees who have worked there for over 20 years will only receive 1 week of severance. There are many ways for a company to not pay people out what was promised.
No one from HR quit in Latin America. They’ve all been around a long time and are not going to quit when they have a severance coming in two months. They all know the end is near and only the short timers would quit at this point. The writing is on the wall for these people in HR and others in Marketing, Finance, CTO/Accelerator, Legal, Purchasing and any other group that is not revenue generating. Don’t be fooled, the reconening is coming.
One Business Analyst in Tampa who used to do some reports and projections to Sales quit cause, let me quote him: "he did not wanted to be in a ship that is sinking".
Another employee from HR "people business partner "left in Latin America. When someone from HR is looking to leave, you can already start imagining things.
It’s less about a sign on bonus or stock vesting for top salespeople. Their comp package is heavily weighted towards commissions, which right now will be close to zero, especially given the press around the cuts Broadcom needs to make. Nobody is selling net new mainframe and there is a renewal team which is paid mostly lower base with some commission.
Also, if someone waits too long the great jobs at Salesforce, ServiceNow, etc. will be taken by your ex-colleagues and you’ll be left with second tier companies.
I don’t feel too sorry for most of these sales guys, CA treated them like gods for many years and gave tons of stock, Compass Club trips and more where the presales teams who did so much work got nothing.
Stock vests if you are fired though and when Broadcom acquires you there is about a 70% chance you will be fired, if your stock is valued at more than 100K and you can’t get that as a sign on bonus you should stay until the deal closes. Most people will be fired. They said they are removing a load of expenses to the tune of over 1 billion, G&A will only get you so far, sales will be whacked big time. CA will be around 2,000 people if we are lucky when they are done and those 2,000 will be overseas, not here. I hear the casino will take over Islandia. The day care will come in handy for this people that have no place to bring their kids when they go to the Marriott Casino next door.
+1 on the sales departures. Every sales person I know in the west (US) is already actively interviewing.
The gist of what I'm hearing from them is 'why stay if my stock won't vest?' and 'why should I stay without a retention bonus after you killed my pipeline announcing this deal?'
Top sales people are leaving as they see no way to make their quota now. Customers are stalling deals until they see what happens. Mainframe renewal people will stick around as they will have a job.
Wow - you are out of touch with reality. Where do you think they will cut $1.3 BILLION in expenses? They publicly made that statement. They will have to cut people in every function. R&D will be safe if you are in a high profit business like the Mainframe. Don't be fooled. The cuts will be deep.
People said the same thing about Broadcom when they were acquired by Avago, yet Broadcom folks are still thriving in Avago (which decided to keep Broadcom name)... yes there will be cuts, may be up to 30-50% in support organizations, but r&d will be intact, most marketing (those who have real work) will have jobs. Broadcom is not stupid, they didn't buy CA to drive it into grounds but to reap profits, and most of us know that you still need people to do that.
Fact. Broadcom acquisition will be the end of CA, what will be left will be a fraction of the size. Say goodbye to ant friends you have in Finance, HR, Legal, IT, CTO p, Marketing. They won’t just cut p, they will decimate. You will be shocked by how quickly they do this as well. No heart at all, just straight firings. The support you get there is min8mal if any.