Broadcom lays off 1100 employees after Brocade merger

Broadcom said it had laid off about 1100 employees across its businesses to cut costs after its merger with Brocade Communications Systems.

The chipmaker completed its US$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 US$143 million in restructuring charges, primarily employee termination costs, during the first two quarters of its fiscal 2018.

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

Reporting by Uday Sampath. Editing by Maju Samuel.