Broadcom lays off 1,100 employees after Brocade merger

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© Reuters. FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd, is shown in Irvine, California© Reuters. FILE PHOTO: A hint for the campus offices of chip manufacturer Broadcom Ltd, is revealed in Irvine, California

(Reuters) – Broadcom (NASDAQ:-RRB- Inc explained it had put away roughly 1,100 workers across its businesses to cut costs after its merger with Brocade Communications Systems.

The chipmaker accomplished its 5.5 billion purchase of system machine manufacturer Brocade at November.

Broadcom is farther assessing its assets and could finish extra positions, it mentioned in a regulatory submitting https://www.sec.gov/Archives/edgar/data/1730168/000173016818000019/avgo-05062018x10q.htm.

Broadcom stated it had incurred $143 million in restructuring expenses, chiefly employee termination outlays, throughout the initial two quarters of its own fiscal 2018.

The organization is anticipated to pay most its employee turnover prices from the next quarter.

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