Broadcom Lays Off 1,000+ Employees

Credit: Wochit
Published on June 15, 2018 - Duration: 00:42s

REUTERS reports that Broadcom Inc said it had laid off about 1,100 employees across its businesses.

This in order to cut costs after its merger with Brocade Communications Systems. The chipmaker completed its $5.5 billion acquisition of network gear maker Brocade this past November.

In a regulatory filing, Broadcom said it is further evaluating its resources and may terminate additional positions.

Advertisement

Recent related news from verified sources

RALEIGH, N.C., Oct. 15, 2018 (GLOBE NEWSWIRE) -- State Employees’ Credit Union (SECU) held its 2018 Annual Membership Meeting in Greensboro last week,...
6 days ago • GlobeNewswire

· Sears chairman Eddie Lampert reportedly took responsibility for some of the retailer's mistakes during a town hall meeting with 1,000 Sears employees on...
5 days ago • Business Insider

A lot of uncertainty hangs over the UK as continues its slow march out of the European Union, but today one of the world’s biggest companies announced plans to...
3 days ago • TechCrunch

VANCOUVER, British Columbia, Oct. 17, 2018 (GLOBE NEWSWIRE) -- *Netcoins Holdings Inc. (“NETC” or the "Company") (CSE: NETC) (OTC: GARLF) *is pleased to...
4 days ago • GlobeNewswire

You might like