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Broadcom Reduces Staff in Planned Job Cuts

July 03, 2001|Karen Alexander

Broadcom Corp. terminated an undisclosed number of employees, following through on previously announced plans to cut jobs at its Irvine headquarters and elsewhere.

The high-speed communications chip maker, facing declining sales, said early last month that it would reduce staff and cut other costs during the second quarter. Job cuts, which included engineers, have affected units throughout the firm.

Broadcom is expected to announce second-quarter results in the third week of July. Shares rose 15 cents to close at $42.91 on Nasdaq.

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