Broadcom to lay off 1,100 employees following Brocade merger

Broadcom expects to incur the majority of its termination costs during the third quarter.

Following Broadcom Inc’s $5.5 billion merger with Brocade Communications Systems in November 2017, it is now planning on laying off nearly 1,100 employees as part of a cost cutting measure.

As part of a regulatory filing, Broadcom further stated, it is looking to further evaluate its resources and could potentially terminate additional positions.

Broadcom reported that it had incurred $143 million in restructuring charges primarily in employee termination costs, during the first two quarters of 2018-2019.

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

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Categories: Strategy, HR & Organization, Creativity, Entrepreneurship, Regulations & Legal

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