Broadcom Cut About 1,100 Jobs After Brocade Deal, May Shed More
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Broadcom Inc., a chipmaker whose acquisitions have reshaped much of the $400 billion semiconductor industry, said it cut about 1,100 jobs following its purchase of Brocade Communications Systems Inc. and may reduce headcount further.
“Management is in the process of further evaluating our resources and business needs and may eliminate additional positions, which would result in additional restructuring costs,” the company said in a regulatory filing. The company took charges of more than $100 million, mainly related to cutting staff, it said.