Broadcom lays off 1,100 employees after Brocade merger

  • Broadcom said it had laid off about 1,100 employees across its businesses to cut costs after its $5.5 billion merger with Brocade Communications Systems.
  • Broadcom is further evaluating its resources and may terminate additional positions.
  • Broadcom said it had incurred $143 million in restructuring charges, primarily employee termination costs, during the first two quarters of its fiscal 2018.
Hock Tan, CEO of Broadcom
Lucas Jackson | Reuters
Hock Tan, CEO of Broadcom

Broadcom said it had laid off about 1,100 employees across its businesses to cut costs after its merger with Brocade.

The chipmaker completed its $5.5 billion acquisition of network gear maker Brocade in November.

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

Broadcom said it had incurred $143 million in restructuring charges, primarily employee termination costs, during the first two quarters of its fiscal 2018.

The company is expected to pay the majority of its employee termination costs in the third quarter.