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Rolling job cuts by Broadcom have slashed VMware's workforce roughly in half
Wall Street loves CEO Hock Tan's M&A strategy and his aggressive moves to boost profitability at VMware.
The chip giant closed one of the biggest tech deals ever when it acquired cloud software provider VMware in late 2023. Tan has concentrated on VMware's largest customers and switched to a subscription-based business model from a perpetual license approach. "The VMware kicker continues to execute, which shouldn't be a surprise, given Hock Tan's expertise on his wash, rinse, and repeat M&A playbook," said Dave Wagner, portfolio manager at Aptus Capital Advisors, ahead of Thursday's blockbuster earnings release.
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