I was one of the people laid off last week, and I am not bitter and thankful to Broadcom for letting me go. I got equity and severance and a month off before I start my new job in December. Everything worked out exactly the way I hoped it would and I hope the same for my former colleagues around the world. Reading the various posts on Linked In are odd to me. I liked working at CA, but I didn’t love it. It was a job for the last 10 years. Management was out of touch with reality and we had by far the laziest CEO to ever exist, it really baffles me that the board allowed him to remain in the job when he was so busy cycling around the world and not running the company. I won’t miss any of that and I hope Broadcom proves a good employer to the people that stay. Can anyone share how it is going so far for those that remain? Most of the people I know were let go and the few that are on transition that worked in our group are bitter and angry. Good luck to you all.
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" What happened to Amit?" Amit is dead:
https://www.smdailyjournal.com/obituaries/amit-chatterjee/article_9963a60a-e3ca-11e8-9d8c-c79f0b1a2c03.html
So far noone is doing anything - I mean those on transition. It feels like well paid waiting for exit papers :-O I got transition for 6 months and I guess nothing will really happen for another 2 months. And what can be managed in the remaining time then? Nothing really significant. So far not really impressed by Broadcom, it seems that all hyper-activity begins and ends with Hock.
BikeyBoy for President.
We need someone to get a good deal for the US.
$$$$$
Bikeboy a great ceo?.... a stupid french canadian who didn't speak french... anyaway i hope if someone should meet him... do what you believe convenient..jarabe de palo
You all describe your experiences as employees...Lack of growth, bad management etc... But nobody on the outside has cared for the past 15 or more years..
Acquisitions... All they did was purchase some relative cheap companies to keep their revenue flat.
CA was not considered a growth stock to own. It stayed around 25$ for ages and provided a high dividend. Mostly a 4 percent return. Nothing else really matters, employees , feelings etc.
And when the air ran out ... because people can buy other investments that are safer and provide a higher return, they wrapped it up and sold for a great profit....
"Fill MyCrackIn," - Never heard this. In association with his name I always used to recall a phrase from a movie: "Release the Kraken!"
@W7380Ta-1iaz Could not agree more. Anyone who thinks Bikeboy did a good job needs to have a lobotomy. It you exclude acquisitions and last years price hike, CA would have shrank by about 25-30% during his term in office. He and the entire board deserve to be banned from every being employed as an officer of any public company again. Their incompetence is beyond belief. A mentally challenged monkey could have made more informed decisions than MG. He loved to throw his direct reports under the bus, but he was the one that hired them in the first place. He repeatedly claimed he had the best executive management team in the industry, yet most of the people didn't last more than a year or two in a their jobs. What happened to Amit? Ever care to answer that Mikey?
Hired to grow the company? Give me a break... he helped selling peoplesoft to oracle. Then he sold taleo to oracle... it’s what he does ... sell companies. Of course he told the employees he was there to grow the company, in my mind all spin... The board of directors had probably given up... CA has 3 ceo’s After Sanjay (one interim) and nothing changed... the stock was acting like a bond... flat 25$ with a 4 percent return.... it was the only reason why anyone even bought the stock... and it’s good until rates go up... and that is what they were facing...
Flat revenue, a company loaded with old timer employees that has no connection to the outside world or sense of what companies want, a development and sales organization completely separated to the point product managers had no idea why the products sold or if they were even in use etc.....
Re: "Back to the CEO... While he was biking around - he also managed to sell this POS of a company at a very high premium... THAT is his job - getting investor returns...... Look at it from his point of view...."
Look at it from this point of view. He was hired to grow the company, not my opinion, check his own statements at his early town hall meetings. He inherited a company with slow growth, constructed by John Swainson and truly absentee management by "Fill MyCrackIn," with revenues of just under $5B/yr. Towards the end of his disastrous tenure, the company fell below $4B/yr and came back in the last FY to just over $4B, but only after buying revenue streams to prop it up.
Bikey Boy was overmatched at every turn. Clearly, he knew nothing about enterprise software, running a multi-product company, or hiring senior executives. He was very good at hiring "yes-(wo)men" and churning them year after year. The only way he was able to achieve the "shareholder return" you talk about was stripping down the company (destroying any future) to make E/R look good enough for PE or a bigger, uglier version of CA (see Broadcom) to buy him out.
Broadcom bought the mainframe portfolio, it returns a 65% margin. ES at last blush is a hemorrhage at 11%, even with last years cuts. Veracode was like your Target Redcard 5% rebate - $950M on that $19B. The rest will be accomplished via more divestitures and abandonment. I wouldn't count on MF doing anything more than yearly cuts, as pointed out by Chris O'Malley in his entertaining LinkedIn blogs, under Gregoire, CA has cut the heart out of investment there, the products no longer even maintain currency with new middleware, operating system, and hardware releases. The only saving grace for those folks might be that BMC and Compuware are as constrained as the CA MF business unit and IBM is spending more time losing themselves in the cloud than focusing on MF.
The responsibility for this massive fail falls squarely on Groggier's shoulders and the fact that he's going to make a huge payday while a few thousand people are out of work for Christmas (and beyond) is a travesty.
I’m a Stay. The Blitzkreig has already started. It will be death by a 1000 cuts. Already looking for other opportunities.
Anyone who’s a Stay has no more than a year before the next bloodletting.
I feel exactly the same as the OP. I stayed at CA for a few years for personal reasons, and because the pay was very good and the job was easy and flexible, but mostly I was bored out of my brain and thought the company was full of fairly mediocre people. Starting a new job in a great company next week and happy to collect my severance and equity. I also don’t get all these tearful messages on LinkedIn and I feel like I worked for a totally different company. But I do hope everyone lands on their feet. After 25 years in one company it must be scary, and probably also quite challenging.
Sorry, The CEO was not lazy.... Scores of people have posted here how they worked for CA for 10 plus years, not loving the place etc. Sounds to be like a place that had to many titles (check out Linkedin - everyone was an advisor, Senior Advisor, VP , SVP)... and not enough worker bees..... Sounds like a bunch of unmotivated employees collecting monthly pay checks....
Back to the CEO... While he was biking around - he also managed to sell this POS of a company at a very high premium... THAT is his job - getting investor returns...... Look at it from his point of view.... He came into a company where sales and development had no communication - where all the real talents had long gone - with nothing but employees having 10 plus years = absolutely no idea about the outside world.......
I was one of the UK remain.