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.