Broadcom Pte. layoffs, on the record
Every job cut, severance charge and restructuring Broadcom Pte. reported in its annual reports, 2016 to 2017, quoted from the filings. Headcount went from approximately 15,700 to approximately 14,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 15,700 | October 30, 2016 |
| 10-K for 2017 | approximately 14,000 | October 29, 2017 |
Job cuts, severance and restructuring
Our summaryFollowing the Broadcom Merger, the company began cost reduction activities eliminating about 3,100 positions globally; about 1,900 positions had been eliminated by October 30, 2016.
Word for word“In connection with the Broadcom Merger, we began the implementation of cost reduction activities, including the expected elimination of a total of approximately 3,100 positions from our workforce across all business and functional areas on a global basis.” 10-K for 2016
Our summaryThe company recorded restructuring charges mainly for employee termination costs tied to the Broadcom Merger and expects about $50 million more restructuring charges in future periods.
Word for word“Restructuring charges were due primarily to employee termination costs of approximately $418 million , and lease termination and other exit costs of $29 million, primarily resulting from the BRCM acquisition.” 10-K for 2016
Our summaryThe company recorded employee termination costs and lease and other exit costs for restructuring linked to the Emulex acquisition.
Word for word“In fiscal year 2015, we recognized $34 million and $11 million of employee termination costs and lease and other exit costs, respectively, for restructuring activities in connection with the Emulex acquisition.” 10-K for 2016
Our summaryThe company recorded employee termination costs and lease and other exit costs for restructuring linked to the LSI acquisition.
Word for word“In fiscal years 2015 and 2014 , we recognized $26 million and $120 million , respectively, of employee termination costs and $6 million and $17 million , respectively, of lease and other exit costs for restructuring activities in connection with the acquisition of LSI.” 10-K for 2016
Our summaryThe company recorded employee termination and lease exit costs from closing a fabrication facility.
Word for word“In fiscal year 2014, we recognized $13 million and $3 million of employee termination costs and lease exit costs, respectively, in connection with the closure of a fabrication facility.” 10-K for 2016
Our summaryAfter the Broadcom Merger, the company began cost reduction activities that eliminated about 3,700 positions worldwide, and it recognized employee termination and lease and other exit costs in fiscal 2017 and 2016.
Word for word“• In connection with the Broadcom Merger, we began the implementation of cost reduction activities, including the elimination of a total of approximately 3,700 positions from our workforce across all business and functional areas on a global basis.” 10-K for 2017
Our summaryIn fiscal 2015 the company recorded employee termination costs and lease and other exit costs tied to the Emulex and LSI acquisitions.
Word for word“• In fiscal year 2015, we recognized $60 million of employee termination costs and $17 million for lease and other exit costs in connection with the Emulex and LSI acquisitions.” 10-K for 2017
Broadcom Pte. filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Broadcom Pte.’s annual reports (10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2017-12-21. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.