Broadcom sale.

yaliu07 said:
wait..  is broadcom still going to move to GP?
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sounds like they are.. but I'm hearing with a smaller footprint for obvious reasons. 
 
Yes. Per oc register and another la times article. Hq will move away, but still will have presence in Irvine. Not sure what that means but no indication that the gp plan fell thru
 
AW said:
Yes. Per oc register and another la times article. Hq will move away, but still will have presence in Irvine. Not sure what that means but no indication that the gp plan fell thru
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means all of the corporate admin/finance folks better start looking for a new gig.
 
GH said:
ukuoy said:
GH said:
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.
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I don't think high cost of living is really a big deterrent to drawing talents especially younger ones (Silicon valley as comparison).. The more likely reason that Irvine employees should be afraid of is Avago is HQ in Singapore... very low corporate tax rate and abundance of tech talents at much lower cost.
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Except low corporate tax, Singapore is really expensive for young talents and companies.
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True, but Singapore have very lax working visa requirement for foreigners (compared to the US), thus have a large pool of potential talents from neighboring Asian country at much cheaper salary expectations (these workers won't really mind the high cost of living as it would still be better overall for them than working in their home country). So the company can pay lower wages and lower taxes for the same work function ...
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Broadcom has been sponsoring national middle school scientific competitions (BROADCOM-masters) in the past years and this year.  Does that mean from next year, it will be sponsored by a Singapore Company?  What a joke!
 
Discover, like many low performing lenders, is getting out of the biz primarily due to volume, but also because of the gigantic costs of compliance and regulation within the mortgage business. It's partly a sign of economic weakness, but I'd sooner attribute it's demise to regulations.

My .02c
 
qwerty said:
AW said:
Yes. Per oc register and another la times article. Hq will move away, but still will have presence in Irvine. Not sure what that means but no indication that the gp plan fell thru
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means all of the corporate admin/finance folks better start looking for a new gig.
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why only admin/finance?  shouldn't affect more people?  i still dont understand why broadcom still build at great park?
 
yaliu07 said:
qwerty said:
AW said:
Yes. Per oc register and another la times article. Hq will move away, but still will have presence in Irvine. Not sure what that means but no indication that the gp plan fell thru
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means all of the corporate admin/finance folks better start looking for a new gig.
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why only admin/finance?  shouldn't affect more people?  i still dont understand why broadcom still build at great park?
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Because those are the easiest to outsource, they're an overhead group.
Engineers are a little more difficult as its skillset specific

Same with sales/business development types, can't outsource years of relationships with vendors and clients that easily

I think Broadcom spent a good chunk of change to build at gp, so it appears that they'll move there

Who knows, it can all go out the window. The merger could still fail. The company can still relocate completely. 

Makes the most sense that they'll just move there along with emulex and any other subsidiary of the parent company, and expectation that not all jobs are safe
 
yaliu07 said:
qwerty said:
AW said:
Yes. Per oc register and another la times article. Hq will move away, but still will have presence in Irvine. Not sure what that means but no indication that the gp plan fell thru
Click to expand...

means all of the corporate admin/finance folks better start looking for a new gig.
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why only admin/finance?  shouldn't affect more people?  i still dont understand why broadcom still build at great park?
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I'm "guessing" and don't quote me - but in general they have a fiduciary duty to honor the contracts they entered pre merger with the architect designer and the construction company.

Old articlehttp://m.ocregister.com/articles/broadcom-654124-campus-new.html
 
BRCM is huge, even if they move finance/admin out of Irvine, the new GP  campus can still be filled by the rest of the employees.

Talent for engineering is high in SoCal, they need to keep a presence here.
 
I'm surprised BRCM is still planning to move to GP.  Doesn't sound like they really need the space after all.


Broadcom to cut nearly 700 jobs at Irvine campus

Last March, Broadcom announced it would open a 73-acre campus near Irvine?s Great Park, 10 miles from its location near University Research Park, at a cost of $778 million. The new location was expected to accommodate up to 8,000 employees.

As of last May, Broadcom employed roughly 2,500 people in Irvine and more than 10,000 people globally.
http://www.ocregister.com/articles/company-703652-irvine-last.html
 
By the time the campus is built, they'll have like 3 guys occupying the whole thing.  Maybe a janitor.
 
WTTCHMN said:
I'm surprised BRCM is still planning to move to GP.  Doesn't sound like they really need the space after all.


Broadcom to cut nearly 700 jobs at Irvine campus

Last March, Broadcom announced it would open a 73-acre campus near Irvine?s Great Park, 10 miles from its location near University Research Park, at a cost of $778 million. The new location was expected to accommodate up to 8,000 employees.

As of last May, Broadcom employed roughly 2,500 people in Irvine and more than 10,000 people globally.
http://www.ocregister.com/articles/company-703652-irvine-last.html
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They are moving there  but many areas will also be leased out.  Irvine company should try to pull in another tech company.
 
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