What VMware Workers Need To Know If Broadcom Deal Closes
“It’s OK for us to have some questions and concerns based on what has happened in the past,” VMware CEO Raghu Raghuram tells employees.
“Continuing Employees” Will Be Level-Funded
In section 7.7 of its takeover bid, Broadcom has agreed to give “continuing employees” -- those VMware workers who remain after the acquisitions -- “at least the same wage rate, or base salary.” It will also honor existing language around incentive pay, including cash and equity. Health, welfare, and severance benefits that are “no less favorable” than the employee currently has will also be provided.
Continuing employees would also be eligible immediately for benefits under Broadcom, once the deal is approved.