Does this mean, they will spare Vmware people ?
“Following the closing of the transaction, the Broadcom Software Group will rebrand and operate as VMware, incorporating Broadcom's existing infrastructure and security software solutions as part of an expanded VMware portfolio.”
Polish the resume, folks and hang out for the severance!
Any idea what would the package be like?
VMware shareholders elect to receive, for each VMware share held, $142.50 in cash or 0.2520 shares of Broadcom common stock (subject to pro-ration mechanism)
That implies a value of 565.47 per share of Broadcom. Curious how they arrive at that.
Broadcom has already said that they expect $5B of "synergy" (translate as: we will cut VMW expenses by $5B a year... so 90% of non-revenue jobs will be gone, majority of revenue-related jobs will move to low cost geo).
If you aren't in R&D and you aren't in BG or India, assume that you will get a package and a nice wave...
Eliminating duplicative General & Administrative functions across information technology, finance, legal, human resources and facilities.
No. It just means they will use the VMware name like they did with Symantec.
Broadcom will only keep about 20% of VMware employees and customers. They operate very lean.
Read the Broadcom document release https://investors.broadcom.com/static-files/232c0cd2-02d9-4704-bb7b-5659cef67fae bottom of page 13
It clearly says that they are going to fire redundant roles, like IT, HR, Legal, etc. I would stay now for the severance but get your CV updated and expect it.
Will they get rid of corporate information security team as well ?
I see this as a branding move. The VMware brand is a far stronger name vs Broadcom Software Group. I don't see the information that was relayed in the last couple days on how things will shake out as changing.
Only PR. Do not buy this stuff. IT is just to make people stay until they decide who to let go. It is better for them.
Engineers who did not start looking for jobs since Monday are the one who "left" holding the bag.