Will merge of Veritas to Symantec cost my job?

[Lithography]

Hi I am a newbie here. Just learnt that Symantec will buy Veritas at the price of $13 billion. I just joined Veritas several months ago, worked as a software engineer, kind of junior. Should I worry about my job after the merge?

Just look at what Oracle will do to the 12,000 PeopleSoft employee---they are going to layoff 6,000 of them! I hope the situation is better in my case, since there is almost no overlap between the product lines of Veritas and Symantec; unlike Oracle and PeopleSoft, who are hostile rivals for long. But who knows whether there will be large layoff after the merge to cut cost? and generally the most junior staff suffered most. Should I begin my next job hunting right now? Would like to learn knid advice from your guys.

 

[TuxDave]

My magic 8 ball says 'outlook not good'.

 

[maddogchen]

I say your safe for 6 months. but maybe you should start job hunting in Jan.

 

[Storm]

Man there are a lot of mergers lately.

Good luck with not getting laid off.

 

[Lithography]

Thanks for your suggestion. But job market is tough now. I should have chosen another offer at my last job hunting. :-(

 

[AcidicFury]

BTW, welcome to ATOT. Watch out for trolls, as they're rampant in some parts. I would say keep the job you have now, but do some job hunting on the side.

 

[TuxDave]

Originally posted by: Lithography
Thanks for your suggestion. But job market is tough now. I should have chosen another offer at my last job hunting. :-(

Yeah... but it's always good to stay ahead of the game.

 

[her209]

So should we start buy up Veritas stock or what?

 

[bsobel]

Originally posted by: Lithography
Hi I am a newbie here. Just learnt that Symantec will buy Veritas at the price of $13 billion. I just joined Veritas several months ago, worked as a software engineer, kind of junior. Should I worry about my job after the merge?

Just look at what Oracle will do to the 12,000 PeopleSoft employee---they are going to layoff 6,000 of them! I hope the situation is better in my case, since there is almost no overlap between the product lines of Veritas and Symantec; unlike Oracle and PeopleSoft, who are hostile rivals for long. But who knows whether there will be large layoff after the merge to cut cost? and generally the most junior staff suffered most. Should I begin my next job hunting right now? Would like to learn knid advice from your guys.

No, the goal of the merger is not to increase profits by massive cost cutting (e.g. layoffs) as is being done by the PeopleSoft deal. JWT talked about this the other day on CNBC, and it was the truth. The best advice I can give you is the most honest, continue to do your job, continue to build and ship innovative products, and you will be fine.

Welcome aboard,
Bill (Chief Architect, M&A Symantec)

 

[TheLonelyPhoenix]

Time to move to India where the software jobs are.

 

[sygyzy]

The deal was for $13B? That's HUGE!

 

[Michael]

bsobel's advice aside, I have a lot of experience with mergers and acquisitions (and actually have someone who used to work for me who is now at Veritas) and I suggest that you keep your eyes open for a new job. The actual merger will take time as preparing and getting the SEC documents approved is a huge process and who knows if someone else will step in. So there is no need to panic and you will have a chance to get more and better information.

However, you really can only look out for yourself and you should try and protect yourself.

I have seen mergers start with the idea that no cost cutting or large staff changes are needed and then end with big lay-offs. In general, Finance and other support functions get hit much harder than people in positions like you, so I repeat that there is no need to panic.

Michael

 

[T2T III]

Originally posted by: Michael
bsobel's advice aside, I have a lot of experience with mergers and acquisitions (and actually have someone who used to work for me who is now at Veritas) and I suggest that you keep your eyes open for a new job. The actual merger will take time as preparing and getting the SEC documents approved is a huge process and who knows if someone else will step in. So there is no need to panic and you will have a chance to get more and better information.

However, you really can only look out for yourself and you should try and protect yourself.

I have seen mergers start with the idea that no cost cutting or large staff changes are needed and then end with big lay-offs. In general, Finance and other support functions get hit much harder than people in positions like you, so I repeat that there is no need to panic.

Michael

True that. Also, most companies will tend to hold onto most support staff long enough to get the systems and operations consolidated - then, it's bye bye. Just don't be the last one to leave and have to turn the lights out.

 

[bsobel]

True that. Also, most companies will tend to hold onto most support staff long enough to get the systems and operations consolidated - then, it's bye bye. Just don't be the last one to leave and have to turn the lights out.

Not that is matters in this case but he not in a support position, he's in a development one.

Bill

 

[rh71]

don't sit on your a$$ and not job search anyway...

 

[dabuddha]

I'd start looking now just to be safe.