All designations go minus 1 at least or minus 2 in some cases. Specially for people managers. salary will not reduce as per the deal agreement. A VP will become a very highly paid Director for the market and a Director may become a very highly paid manager at BC. That’s for the job market. Good luck finding a job later explaining how you were a VP/ director earlier.
Broadcom layoff parachute is fantastic for VPs only when BC lays off its VPs. Read BC’s sec filings. Full 1 year salary, bonus and all RSUs is true. This is industry average too. But then the same is true for VMware VPs too. And that’s why VPs are protected even if they become non-VPs. Their executive severance agreements are so well defined that it will be treated as continuing benefits for 1 year post closure.
Apart from legal minimum, severance is not defined or protected for anyone below VP nor it is a benefit. Feel bad for the directors and snr directors who will be treated as ICs during separation. The snr director guy below is rightly showing the picture. Any director/ snr dir in his/her sane mind will be and should be hunting in the job market.