Broadcom cuts 500 jobs
Broadband chipmaker Broadcom is cutting a little more than 500 positions worldwide as part of a cost reduction program announced last month.
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The California-based company, a leader in supplying silicon to cable modems, said it is not eliminating any product lines. Broadcom wants to cut operating costs by 10% to 12% below third quarter levels by December 31. As of Sept. 30, Broadcom had 3067 employees worldwide.--Jim Barthold, senior editor
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