Fedora 24, kernel 4.7 and VMWare Workstation 12.1.

As usual, when Fedora upgrades kernel to a new major version VMWare stops working. In this particular case my Fedora was upgraded to Linux kernel version 4.7.2. The fix I found is the following one:

# cd /usr/lib/vmware/modules/source
# tar xf vmnet.tar
# mv vmnet.tar vmnet.old.tar
# sed -i -e 's/dev->trans_start = jiffies/netif_trans_update\(dev\)/g' vmnet-only/netif.c
# tar cf vmnet.tar vmnet-only
# vmware-modconfig --console --install-all

And that was it!

Note that this works if you upgraded from linux kernel version 4.6. In case you've upgraded from some earlier version, you'll have to patch it first for those version. Here is how to patch VMWare Workstation to work with Linux kernel version 4.6.