Is it true that the acquisition script played out last year this time around has not gone by plan. Buying out Sym has been a disaster for HT , other than cutting costs - it’s now a sinking ship
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"Umm....that would be easy. It’s called establishing a larger share of wallet. Last time I checked there’s still a sh–load of software stack that isn’t in CA’s olde, moldy space ripe for pickin. Wake up"
Your understanding of the Cyber Security software market seems questionable, grow wallet share of a small number of customers is HT's current strategy, Cyber security is a competitive and ever changing world, when your brands lose their recognition (has has already happened in three Gartner Quadrants) what does that leave you with as a large company using an "also ran" product when you get breached?
Who do large companies leverage for purchase decisions as part of their criteria? Gartner of course.... Any CISO who makes the choice to use or maintain software that is now not supported (try getting software support from Broadcom, lucky if you get any useful information within 14 days even for a Sev 1) and not leading Cyber Security software is going to be questioned when a breach happens as to why they didn't buy from the market leaders. What else do large customers rely on for purchase decisions? other like sized organizations who they can use as references, well guess what, Broadcom has to pay large customers (resellers to be exact so its not against the rules) to be good references for Gartner to win back their market.
If the above isn't enough to pursuad a large customer away.... how does it play out when you increase the renewal price by 20-30% per year for these customers you call your "partners", Broadcom wants partners not customers, b—s— they want $$$$ without consideration for the customer. Other Cyber Security vendors are not doing this and they will capitalize on this fact.
“How do you grow as a business when you focus only on a small subset of your existing customers...”
Umm....that would be easy. It’s called establishing a larger share of wallet. Last time I checked there’s still a sh–load of software stack that isn’t in CA’s olde, moldy space ripe for pickin. Wake up.
I can't wait to see how this plays out in the next 6 months. HT got swindled on the dream of a renewals business based on CA's MFD. SED is dying, ESD is next to die. HT is not interested in growing the business, he's only interested in growing profit margins. He has 2 levers to pull, raise renewals or reduce staff.
How do you grow as a business when you focus only on a small subset of your existing customers, a list that gets smaller and smaller and the uplifts grow higher and higher to maintain profit? This experiment is over, time to fold and go home.
Is there even a PE firm interested in buying SED, ESD and MFD?
@uwdb+17D2kOrn ..... there is no $1 billion + Cyber security company who will survive the strategy that HT has put on Symantec....... they are bleeding customers to their competitors (SEP SBE/Cloud to SES 'free' offer was taken up by less than 10% of the customers using those solutions???? it was upto 6 months free of use of a superior technology, why was this? because the market does not trust Broadcoms strategy (Gartner even says this).
They have no interest in growth (hang on, they are just starting to realise that they need new customers doh! - latest sales kickoff)...... Cyber security solutions are easy(ish) to replace with competing vendors when HT does not want to have sales staff to be in market and infront of existing customers and new customers. Somehow he thought the Resellers will save the day, resellers do nothing without vendor sales unless the awareness of the vendor product is so great that every customer wants it.
@uwqx+17D2kOrn ummm...get your head out of the sand. every $1B+ company is focused on cost reduction and growth. innovation is for startups...
Fully agree! Symantec products will no longer play any role in the Cybersecurity market and be gone completely in 2 years time.
Renewal quotes can be even higher. I've heard of some offers with 300-500% uplifts.
The stupidity of management who thought that a cyber security business can be successful as a renewals business is extremely apparent here, Hock and Charlie have no idea about software in an industry that is not legacy and can not be replaced (CA), in Cyber Security you either lead, innovate (to lead) or you go home! Broadcom thought that they could survive with renewal revenue.
Management is only "look up" management, if HT or Charlie says no then the answer is no all the way down, decisions are not made for the benefit of the company they are made because of ego at the top.
Three Gartner magic quadrant leaderships lost in 9 months..... the marketing team FUD says it is because the focus is on Core customers and what they need and does not agree with the market the Gartner uses for its analysis. Rubbish Broadcom is focused on two things, reduce cost and grow revenue.
If you are a core customer you will pay 125-135% every support renewal, if you are a Core PLA customer you will get screwed.
The poor enterprise customers who purchased a PLA? if you try to give up the PLA (Enterprise agreement) you will pay more for the individual software licenses than the PLA, this is taught to us in training.
All renewals outside Core accounts will be at least 110% and the way that the information is present makes it look like that rate will be more likely to be 120%.
@ngqs+17D2kOrn. all software divisions are seeing this issue. anyone who thinks a division is not impacted...you don't know..
renewals aren't what they used to be.
the senior division execs just care about their equity and bonus...front line teams are expendable...
nobody with half a brain would work for BroadCON. unless they are desperate. from what i've heard people who've interviewed find out 50% in office or full time of manager, they're like...f— that.. were the only mo–ns in the office. everyone i know is f—ing remote.
Pray for a decent economy next year to leave this $#it hole.
Symantec was great place to work compared to this sh_tshow. Gut the product teams, gut the sales and support teams, all for the mighty Octane profit margin. Good luck forcing non negotiable renewal uplifts that would make Oracle reps wince. Every customer that is getting effed will renew simply to make plans to get off of everything from SED & ESD and eventually MFD. Whoever Octane divests to will be a bagholder to bunch of unhappy customers who will not be renewing.
as a former Symantec Blue Coat customer, the support has gone down the toilet with Broadcom. Hence we have been given the deadline to move to Palo NGFW and remove Blue Goat from our environments.
Art is a tool and always was, just like the rest of us that stayed and thought our hard work and contributions mattered.
@2cur+17D2kOrn ummm...yeah. that's the Tan Man's M.O.....
That's what happened to CA...
Just an observation...
I think The Man is splitting the SED division to see who's making money. If that division isn't performing as expected by The Man –then it'll eventually be cut. This is an observation from inside talk and website like this.
Art gave a 'warning' leaving the company in his last call. It was evident in his tone of voice. Now, it's happening. I wish him the best. He did an amazing job getting Symantec into Broadcom.
Again, just an observation... I think he didn't want to deal with the next wave of BS to squeeze out SED. A person with a passion for a product's future and the "health" of employees aren't aligned to The Man's. As a result, I think he's tired of the c-ap he's got to deal with –and tired of driving employees beyond their capabilities.
The best thing to do is /continue/ your education in current development languages and processes. This is what I'm doing. Many late nights, lack of sleep, due to busy workdays (I pull in at least a minimum of 13 hours). I'm quite sure my time here is limited.
It just angers me the RSU is considered the fruit of our "promotions" or raises. All Broadcom has to do is; lay you off, thus rendering RSUs pointless. Highway robbery from paying out the so-called raises. Agreed— you got paid your regular salary, but other rewards seem like smoke and mirrors.
Again, just an observation.
sorry but that's part of the playbook. buy, cut, squeeze til it bleeds...
employees lose. customers get f—ed..