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Broadcom Lays Off 1,000+ Employees

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

Broadcom Lays Off 1,000+ Employees

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.

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