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Broadcom to Cut Up to 1,150 Jobs
IHS Electronics360 News Desk
October 23, 2013
Fabless chip vendor Broadcom Corp. said Tuesday (Oct. 22) it would reduce its workforce by up to 1,150 employees as part of a restructuring plan to reduce expenses.
The layoffs—which had been rumored for the past week—were announced as the company reported better-than-expected results for the third quarter. Some of the job cuts will effect employees who joined the company as part of the recent acquisition of Renesas Electronics' LTE assets, which closed earlier this month, Broadcom said.
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