I left VMware after I caught Kit lying about it so technically I don't have a right to post here but I can only say - anyone that wants to wait. Have a look at the current market. Layoffs are literally everywhere.
Personally I changed to another industry and even here are layoffs all over the place. So if you think you get a juicy package when laid off and you can sit there with your cat drinking bud light looking for new jobs - think again. Your package will run out in no time.
Competition due to layoffs is already hard. In fact I tried to move jobs again and the day after my last interview said company had huge layoffs and the team I applied for is gone, including the recruiters, managers and colleagues. So I don't expect an update on my application any time soon.
My point is - if you wait for the layoffs - which will cut deep - you will have an even worse competition.
God help those people that didn't progress and still think vmware tech is up to date tech and think they can make the same money when leaving vmware.
I worked in PS back in the day and local vmware architect roles go for 30-50% of my vmware salary.