Broadcom’s Blitzkrieg! Layoffs unleashed after gobbling up VMware in a $69 billion feast
Broadcom's $69 billion acquisition of VMware leads to significant employee layoffs
Breaking news, folks! Many VMware employees got a rude awakening on Monday. It turns out their positions are about to be wiped out, all thanks to the $69 billion acquisition of the company by Broadcom. Talk about a bitter pill to swallow!
Hold on to your seats, because this acquisition saga has been quite the rollercoaster ride. Broadcom first announced their plans to acquire VMware back in May 2022, waving around a staggering $61 billion and offering to take on $8 billion of their net debt. But the deal wasn’t sealed until November 22, after receiving regulatory clearance from various countries, including the US, the UK, and even China! It seems like this acquisition wasn’t going down without a fight.
Fast forward to Monday, and VMware employees received an email that hit them like a ton of bricks. It read, “Broadcom recently completed its acquisition of VMware. As part of integration planning, and following an organizational needs assessment, we identified go-forward roles that will be required within the combined company. We regret to inform you that your position is being eliminated and your employment will be terminated.” Ouch, that stings!
But don’t worry, folks, because Broadcom is feeling oh-so-generous. They’re offering these laid-off employees a juicy severance package and even providing a non-working paid notice period. Aww, how thoughtful of them. I’m sure the employees are just thrilled about that.
Now, I know what you’re all thinking—how many employees are we talking about here? Well, the exact number remains as elusive as a magic trick. Business Insider couldn’t quite figure it out, and Broadcom didn’t exactly jump at the opportunity to spill the beans. Perhaps they’re trying to keep it hush-hush, like a top-secret recipe.
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But hold on, folks, because it seems that VMware was already on a chopping spree before this acquisition went down. Rumor has it that job cuts had already begun prior to the deal closing. VMware even sent a letter to their employees, spelling out their options: join Broadcom, snag a transitional role, or enjoy a cozy severance. Ah, the choices, the choices.
Some of the remaining VMware employees have been speculating about all this. They think that maybe—just maybe—Broadcom might spin out some units, like the ever-elusive security unit. It’s all a bit like trying to predict the future, isn’t it?
But wait, there’s more! In the past year, a bunch of top executives at VMware have bid their farewells to the cloud computing company. Seems like the ship was starting to leak even before the storm hit. And some employees were fretting about a culture clash with Broadcom, especially since they have this thing about returning to the office. Who says you can’t work from your pajamas, right?
And to add a cherry on top of this acquisition sundae, some customer deals were put on hold, as they anxiously awaited the fate of VMware. Talk about putting your customers on hold—hello, elevator music!
Well, folks, that’s all the scoop we have for now. But don’t worry, I’ll be here to keep you updated on all the twists and turns of this acquisition circus. Stay tuned for more financial drama, right here at [Your Website]!
P.S. Got any hot tips or secrets to share? Reach out to me via email at [email protected], Signal at 646.376.6106, or Telegram at @rosaliechan. (But keep those PR pitches to email only, please!)
