Pray that you do not get acquired by Broadcom....60% of you will no longer be there....
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Do some simple math to determine rough head count reduction, pick one...
1) AVGO like $1m+ per employee of revenue.
2) Profit margins 75%+
If this is real, please, please get ready to leave!
Broadcom management has no credibility with the staff - we were flat out lied to regarding raises this year.
Broadcom swears that customers will still get value from the products after the acquisition, but then crows in quarterly analyst calls that the Software Group is at 90% profit margin. If you are in a customer-facing role, then you will not be able to counter customer concerns or competitor statements that R&D will be gutted to single digit percentages. If you are in Product Management or Development, you'll be pretty lonely as there will be very few of you left.
From a benefits point of view, any "perks" will be removed. As mentioned below, there are no "event" funds allocated. You will be effectively forced into a high-deductible health plan.
@1zna+1bNVoeT4. may have whatever you are smoking....? an IPO...lmao... ur toast.
Pretty sure, given Goodnight’s age, that this isn’t the only company after SAS. Also not convinced this isn’t just preparation and promotion for an IPO down the road. Employees want equity in this industry.
Get out while you can. Of your aren't working on a "sticky" product, then parts of you will be sold off at time of announce.
The playbook is all the same. Fight poorly managed company with sticky products, ditch majority of employees except the one experienced in keeping sticky product running...rest of you will be getting it up the po-p chute ...either on day transfer, or ansywher le up to 9 months after. The job market is red hot now, don't wait...you're being shopped around if Hock isn't going to be ur Daddy, someone else will....
Good luck all!
The only thing I regret with Broadcom acquisition of CA, that it I did not happen sooner. I wish they bought us in 2008 instead of 2018. Best thing ever happened in my Software Engineering carrier.
To all SAS folks.
If this happens just ride it out. You’ll either be let go immediately (and get whatever severance you’re entitled to under SAS) or you’ll go on Broadcom “Transition”. On Transition you’ll continue working for a temporary period (could be 6 months or 12+) and then you’ll be let go with your SAS severance AND a nice Transition Bonus of +50% of your paid wages over the Transition period (so it’s like time and a half). The Transition bonus is worth hanging around for and since you’ll know your termination exit-date as soon as your transition begins you’ll have plenty of time to plan your next employment opportunity while still getting paychecks and benefits.
This all assumes Broadcom will follow the same playbook that they executed when they purchased CA Technologies. I’m not sure if they will, I’m just giving you my experience with CA. Be warned that the acquisition model could be different with SAS.
If you’re lucky enough to stay as a full time Broadcom employee you’ll be quite pleased with your compensation package including solid opportunities for bonuses and a stock vesting plan which is fantastic in this hot stock market. Also keep in mind that as a new Broadcom employee your years of service with SAS will carry over if severance should happen later on down the line. (I believe it caps out at 20 years).
I did read a little bit about the employee culture at SAS. Broadcom doesn’t do a lot of warm and fuzzy employee culture perks like holiday parties and picnics but most of the people I know would rather share in Broadcom’s successes from a compensation perspective rather than all that other frivolous fluff. If you want to have a pizza party with your co-workers call Dominoes not Hock Tan.
Another thing to keep in mind is that Broadcom prefers everybody to be in the office where possible rather than working from home. So if you’re kept on as a full-time employee and you’re he-l-bent on becoming a full time work-from-home employee Broadcom may not be a good fit for you unless there’s no office for you to report to or Broadcom decides to close your office and allow you to work from home.
With all of that said - I won’t sugarcoat this. Broadcom WILL execute a VERY aggressive cost-cutting acquisition strategy and MOST of you will either be let go immediately or after a 6-12 month Transition period.
If the rumors are true then good luck to all of you. ☮️
Hopefully the rumors were started by the same "think tank" which had Raleigh as one of the top 2 places Amazon H2 would land...turned out we were never in top 10...
CAer here... 60-70% of your company will get gutted within the first year. They'll have a bunch of people on transition too. If you have been with the company for years then just wait it out and maximize that severance. Those that stay will get nice stock packages but prepare to have the life drained from you. If you don't have many years in the company just start interviewing now. CA mainframers love the RSUs and bonuses but the youngins are bored and left for startups.
40% retention? that would be so generous. After a year it will be 20% or less.
If the rumours turn valid, go and find a job, don't wait for Brcm to execute.
No worries NC SAS people IBM is hiring! LOL
time to manage the sas deadwood out, if you don't do it, then other company will come and make you do it.. sas is not famous for innovation, it is famous for its daycare and retirement package, employee enjoyment and lavishing parties and lunches, people are attached to SAS for its easy going culture, all the good dinner will come to an end one day..
external sas people always wondering how sas makes its $? or ever it did..
I am truly sad about this rumor.. another one would go down in sorrow and destruction...
I just saw the news about acquisition by Broadcom. It's not looking good :(