Broadcom cuts 1,100 jobs after $5.5 bn Brocade deal

Broadcom aims QualcommChipset company Broadcom has cut about 1,100 jobs across its businesses to reduce costs after its merger with Brocade Communications Systems.

The Singapore-based chipset maker completed its $5.5 billion acquisition of network gear maker Brocade in November.

Broadcom, which made an attempt to buy Qualcomm, is further evaluating its resources and may terminate additional positions.

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

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