Broadcom lays off 1,100 people
Business news
|
By
Peter Clarke
The 1,100 positions eliminated represent approximately 7.5 percent of Broadcom’s workforce. More lay-offs may be possible the company said.
During the first six months of its financial year, ended May 6, 2018, Broadcom spend $178 million on restructuring costs primarily related to employee termination costs after the Brocade merger. Broadcom also reported $145 million in costs related to Broadcom’s reverse acquisition by Avago incurred over the previous year.
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