In order to cut costs | 1100 people laid off after the merger of Broadcom and Brocade

On June 15, according to Reuters, chip maker Broadcom announced that after the merger with Brocade Communications Systems (Brocade), a network equipment manufacturer, the company has laid off about 1,100 people to cut costs. .

Broadcom completed the acquisition of Brocade in November last year, with a purchase price of 5.5 billion U.S. dollars.

In the documents submitted to the regulatory agencies, Broadcom said that the company is further evaluating its human resources allocation and may cancel more redundant positions.

Broadcom said that in the first two quarters of fiscal year 2018, the company had paid a restructuring fee of US$143 million, which was mainly used for employee compensation.

The company expects that most of the compensation for employee departure will be paid in the third quarter.