Broadcom Corporation is a leading semiconductor company in the wireless and broadband communication business. The company is headquarted in Irvine, California, USA. Broadcom was founded by a professor student pair Henry Samueli and Henry Nicholas from University of California, Los Angeles (UCLA)at Los Angeles, California in 1991. The company was moved to Irvine, California three years later.[1] In 1998, Broadcom became a public company and now employs over 8,900 people worldwide.
Broadcom is among the Worldwide Top 20 Semiconductor Sales Leaders. In 2010, Broadcom’s total revenue was $6.82 billion.
"We believe that our program creates a winning approach for our employees as well as our non-employee shareholders," said Alan E. "Lanny" Ross, Broadcom's President and CEO. "Our employees, who have a significant equity interest in Broadcom, win through immediate and potentially long-term financial reward for their hard work and competitive drive. We believe the combination of employee retention and reduced overhang provide our shareholders with the greatest potential value in the long run. Together, we all win as Broadcom is able to retain and motivate our most important asset, our employees."
Under the program, eligible employees holding options to purchase Broadcom common stock with exercise prices per share of $23.58 or more will be given the opportunity to exchange those options for a number of new shares or new options based on formulas set forth in the Offer. Each eligible employee can exchange vested options for a lesser number of freely tradeable shares of Broadcom Class A common stock, and can exchange unvested options for an equal or lesser number of new options. The exact number of new shares and new options issuable in exchange for old options will depend on the exercise price of the old options. In general, the higher the exercise price of the old options, the fewer new shares that will be issued and the fewer new options that will be granted.
The new shares to be issued in exchange for vested options will be issued on or one business day after Broadcom accepts the tendered vested options for exchange and cancellation. The issuance will occur no earlier than May 5, 2003. The new options to be issued in exchange for unvested options will be granted no sooner than six months and one day after acceptance of the tendered unvested options for exchange and cancellation. The exercise price of the new options will be the last reported trading price of Broadcom Class A common stock on their grant date.
Broadcom Corporation , the leading provider of integrated circuits enabling broadband communications, today announced a program offering a voluntary stock option exchange for its employees. The offer is designed to help Broadcom retain and incentivize employees, with the aim of enhancing value for all shareholders.
In designing the program, Broadcom carefully weighed the interests of its employee equity holders and its non-employee shareholders, crafting an approach intended to benefit both groups. Employees benefit through a combination of immediate liquidity and the potential for longer-term financial reward, while all shareholders benefit as employees are retained, ensuring continuity and focus on Broadcom's business objectives. Additionally, shareholders should gain from the potentially significant reduction in the total number of fully diluted shares outstanding, commonly referred to as the stock option "overhang".
"We believe that our program creates a winning approach for our employees as well as our non-employee shareholders," said Alan E. "Lanny" Ross, Broadcom's President and CEO. "Our employees, who have a significant equity interest in Broadcom, win through immediate and potentially long-term financial reward for their hard work and competitive drive. We believe the combination of employee retention and reduced overhang provide our shareholders with the greatest potential value in the long run. Together, we all win as Broadcom is able to retain and motivate our most important asset, our employees."
Under the program, eligible employees holding options to purchase Broadcom common stock with exercise prices per share of $23.58 or more will be given the opportunity to exchange those options for a number of new shares or new options based on formulas set forth in the Offer. Each eligible employee can exchange vested options for a lesser number of freely tradeable shares of Broadcom Class A common stock, and can exchange unvested options for an equal or lesser number of new options. The exact number of new share
Uses only research-based, theory-supported approaches to improving employee engagement. Avoided are gimmicks such as employee of the month, suggestion boxes, prizes or other “carrots.” While commonly used, these short-term fixes fail to produce genuine employee loyalty (more than 60 years’ of research tells us so!).
Employs an easy-to-understand systems approach to ensure the root causes of turnover are addressed and the potential for lasting change unleashed.
Customizes all activities to your organization’s unique history, current practices and strategic objectives. Also considered are challenges unique to your industry sector, competitive marketplace issues and talent shortages.
Involves those responsible for implementing change in actually creating the change, ensuring input and improved shared understanding and support of all initiatives.
Integrates hands-on, action-oriented approaches that enable organizations to move forward quickly and effectively
Recognizes the research-proven role of no-cost strategies in developing the “glue” that builds employee loyalty and commitment.
Brings to your organization leading-edge organization-development best practices to effectively and quickly build a retention-rich culture.
The Employee Retention Strategies newsletter, which gained this website the No. 1 positions on Google and Yahoo during its publication in the early part of this decade, was a nationally noted source for research-based, fact-driven guidance on enhancing employee retention. (Back issues still are available). From that research come approaches built on a solid foundation of what works (and what doesn’t) to gain the commitment of employees in all industries and economic sectors.
Added to this base are leading-edge organization-development methodologies to bring your organization’s strengths to the fore, to rekindle the dynamic potential of your company to meet today’s challenges and to rebuild workforce commitment to the heart of your organization’s mission.
Spend time reading the topics on this site. Understand more about what truly contributes to employee engagement and retention. Then, call for an individual discussion of your organization’s unique retention agenda.
When you connect with Broadcom, you're connecting with one of the leading communications semiconductor companies, as well as a community of talent that designs, develops and supplies a diverse portfolio of products targeted at the most significant broadband communications markets in the world. Whether you're an experienced candidate or a university standout, this is the place to learn, invent, build and turn your vision of a telecommunication industry career into reality.
We invite you to explore our career site to get a feel for our culture and learn more about Broadcom jobs, our unique history, our global locations and our benefits. Find out why many of the world's top engineering and business minds have joined Broadcom in the quest to be the leading communications semiconductor company in the world by staying focused on one thing: Connecting everything
To complement the industry's broadest product portfolio and an equally impressive intellectual property portfolio, Broadcom offers an extensive and progressive portfolio of employee benefits.
The Broadcom Benefits Package includes a variety of flexible options to allow our uniquely talented people to customize their coverage to meet their individual needs. All regular, full-time employees are eligible, and coverage begins on day one. Benefits may vary by country and location.
HEALTH CARE BENEFITS
Broadcom provides comprehensive health care coverage for you, your spouse, your domestic partner and your unmarried children who are under age 19. In addition to an excellent PPO plan through Aetna, employees in most locations can also choose Aetna HMO coverage, and, in California, employees can choose HMO coverage through Kaiser Permanente.
HMO and PPO plans through BlueCross BlueShield of Massachusetts are also offered to those residing in various New England states.
Dental Care
Our Aetna PPO dental plan provides comprehensive coverage and the freedom to choose your dentist and/or orthodontist. Preventive dental services are covered 100% through this plan. Orthodontia services for both adults and children are also provided.
Vision Care
Broadcom's benefits include comprehensive vision coverage provided through Vision Service Plan (VSP), the nation's largest provider of eye care coverage. VSP coverage helps pay for eye examinations, lenses and frames.
SURVIVOR'S BENEFITS
Broadcom pays for Group Life and Accidental Death & Dismemberment (AD&D) insurance coverage. You also have the option to purchase additional voluntary Group Life and Accidental Death & Dismemberment (AD&D) insurance coverage.
Disability Programs
Broadcom pays for Short and Long Term Disability through UnumProvident. If you become ill or injured and are unable to work, these benefits provide income protection for both shorter absences and longer periods of disability.
PAYCHECK DIRECT DEPOSIT
Employees can designate up to two checking accounts and one savings account for direct deposit of paychecks.
Credit Union
Western Federal Credit Union and Key Point Credit Union offer a variety of options for checking accounts, savings accounts, individual retirement accounts (IRAs), loans and investment assistance.
PAID TIME OFF
Broadcom hourly employees accrue 10 days of paid vacation during their first year of employment. With each year of service thereafter, employees accrual rate will increase one day per year.
Salaried employees do not accrue vacation time, but instead have the flexibility to take time off with pay at their discretion, subject to fulfilling performance expectations.
Holidays & Sick Days
Employees receive 10 company paid holidays per year and 5 paid sick days.
Broadcom is among the Worldwide Top 20 Semiconductor Sales Leaders. In 2010, Broadcom’s total revenue was $6.82 billion.
"We believe that our program creates a winning approach for our employees as well as our non-employee shareholders," said Alan E. "Lanny" Ross, Broadcom's President and CEO. "Our employees, who have a significant equity interest in Broadcom, win through immediate and potentially long-term financial reward for their hard work and competitive drive. We believe the combination of employee retention and reduced overhang provide our shareholders with the greatest potential value in the long run. Together, we all win as Broadcom is able to retain and motivate our most important asset, our employees."
Under the program, eligible employees holding options to purchase Broadcom common stock with exercise prices per share of $23.58 or more will be given the opportunity to exchange those options for a number of new shares or new options based on formulas set forth in the Offer. Each eligible employee can exchange vested options for a lesser number of freely tradeable shares of Broadcom Class A common stock, and can exchange unvested options for an equal or lesser number of new options. The exact number of new shares and new options issuable in exchange for old options will depend on the exercise price of the old options. In general, the higher the exercise price of the old options, the fewer new shares that will be issued and the fewer new options that will be granted.
The new shares to be issued in exchange for vested options will be issued on or one business day after Broadcom accepts the tendered vested options for exchange and cancellation. The issuance will occur no earlier than May 5, 2003. The new options to be issued in exchange for unvested options will be granted no sooner than six months and one day after acceptance of the tendered unvested options for exchange and cancellation. The exercise price of the new options will be the last reported trading price of Broadcom Class A common stock on their grant date.
Broadcom Corporation , the leading provider of integrated circuits enabling broadband communications, today announced a program offering a voluntary stock option exchange for its employees. The offer is designed to help Broadcom retain and incentivize employees, with the aim of enhancing value for all shareholders.
In designing the program, Broadcom carefully weighed the interests of its employee equity holders and its non-employee shareholders, crafting an approach intended to benefit both groups. Employees benefit through a combination of immediate liquidity and the potential for longer-term financial reward, while all shareholders benefit as employees are retained, ensuring continuity and focus on Broadcom's business objectives. Additionally, shareholders should gain from the potentially significant reduction in the total number of fully diluted shares outstanding, commonly referred to as the stock option "overhang".
"We believe that our program creates a winning approach for our employees as well as our non-employee shareholders," said Alan E. "Lanny" Ross, Broadcom's President and CEO. "Our employees, who have a significant equity interest in Broadcom, win through immediate and potentially long-term financial reward for their hard work and competitive drive. We believe the combination of employee retention and reduced overhang provide our shareholders with the greatest potential value in the long run. Together, we all win as Broadcom is able to retain and motivate our most important asset, our employees."
Under the program, eligible employees holding options to purchase Broadcom common stock with exercise prices per share of $23.58 or more will be given the opportunity to exchange those options for a number of new shares or new options based on formulas set forth in the Offer. Each eligible employee can exchange vested options for a lesser number of freely tradeable shares of Broadcom Class A common stock, and can exchange unvested options for an equal or lesser number of new options. The exact number of new share
Uses only research-based, theory-supported approaches to improving employee engagement. Avoided are gimmicks such as employee of the month, suggestion boxes, prizes or other “carrots.” While commonly used, these short-term fixes fail to produce genuine employee loyalty (more than 60 years’ of research tells us so!).
Employs an easy-to-understand systems approach to ensure the root causes of turnover are addressed and the potential for lasting change unleashed.
Customizes all activities to your organization’s unique history, current practices and strategic objectives. Also considered are challenges unique to your industry sector, competitive marketplace issues and talent shortages.
Involves those responsible for implementing change in actually creating the change, ensuring input and improved shared understanding and support of all initiatives.
Integrates hands-on, action-oriented approaches that enable organizations to move forward quickly and effectively
Recognizes the research-proven role of no-cost strategies in developing the “glue” that builds employee loyalty and commitment.
Brings to your organization leading-edge organization-development best practices to effectively and quickly build a retention-rich culture.
The Employee Retention Strategies newsletter, which gained this website the No. 1 positions on Google and Yahoo during its publication in the early part of this decade, was a nationally noted source for research-based, fact-driven guidance on enhancing employee retention. (Back issues still are available). From that research come approaches built on a solid foundation of what works (and what doesn’t) to gain the commitment of employees in all industries and economic sectors.
Added to this base are leading-edge organization-development methodologies to bring your organization’s strengths to the fore, to rekindle the dynamic potential of your company to meet today’s challenges and to rebuild workforce commitment to the heart of your organization’s mission.
Spend time reading the topics on this site. Understand more about what truly contributes to employee engagement and retention. Then, call for an individual discussion of your organization’s unique retention agenda.
When you connect with Broadcom, you're connecting with one of the leading communications semiconductor companies, as well as a community of talent that designs, develops and supplies a diverse portfolio of products targeted at the most significant broadband communications markets in the world. Whether you're an experienced candidate or a university standout, this is the place to learn, invent, build and turn your vision of a telecommunication industry career into reality.
We invite you to explore our career site to get a feel for our culture and learn more about Broadcom jobs, our unique history, our global locations and our benefits. Find out why many of the world's top engineering and business minds have joined Broadcom in the quest to be the leading communications semiconductor company in the world by staying focused on one thing: Connecting everything
To complement the industry's broadest product portfolio and an equally impressive intellectual property portfolio, Broadcom offers an extensive and progressive portfolio of employee benefits.
The Broadcom Benefits Package includes a variety of flexible options to allow our uniquely talented people to customize their coverage to meet their individual needs. All regular, full-time employees are eligible, and coverage begins on day one. Benefits may vary by country and location.
HEALTH CARE BENEFITS
Broadcom provides comprehensive health care coverage for you, your spouse, your domestic partner and your unmarried children who are under age 19. In addition to an excellent PPO plan through Aetna, employees in most locations can also choose Aetna HMO coverage, and, in California, employees can choose HMO coverage through Kaiser Permanente.
HMO and PPO plans through BlueCross BlueShield of Massachusetts are also offered to those residing in various New England states.
Dental Care
Our Aetna PPO dental plan provides comprehensive coverage and the freedom to choose your dentist and/or orthodontist. Preventive dental services are covered 100% through this plan. Orthodontia services for both adults and children are also provided.
Vision Care
Broadcom's benefits include comprehensive vision coverage provided through Vision Service Plan (VSP), the nation's largest provider of eye care coverage. VSP coverage helps pay for eye examinations, lenses and frames.
SURVIVOR'S BENEFITS
Broadcom pays for Group Life and Accidental Death & Dismemberment (AD&D) insurance coverage. You also have the option to purchase additional voluntary Group Life and Accidental Death & Dismemberment (AD&D) insurance coverage.
Disability Programs
Broadcom pays for Short and Long Term Disability through UnumProvident. If you become ill or injured and are unable to work, these benefits provide income protection for both shorter absences and longer periods of disability.
PAYCHECK DIRECT DEPOSIT
Employees can designate up to two checking accounts and one savings account for direct deposit of paychecks.
Credit Union
Western Federal Credit Union and Key Point Credit Union offer a variety of options for checking accounts, savings accounts, individual retirement accounts (IRAs), loans and investment assistance.
PAID TIME OFF
Broadcom hourly employees accrue 10 days of paid vacation during their first year of employment. With each year of service thereafter, employees accrual rate will increase one day per year.
Salaried employees do not accrue vacation time, but instead have the flexibility to take time off with pay at their discretion, subject to fulfilling performance expectations.
Holidays & Sick Days
Employees receive 10 company paid holidays per year and 5 paid sick days.
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