STAFF REPORTS
Irvine – Orange County chip manufacturer, Broadcom, has plans to cut at least 240 jobs at its Irvine headquarters. A plan was recently announced to eliminate 20 percent of the technological company’s total staff, including 630 throughout California and more in North America, Asia, Europe and the Middle East.
Broadcom, whose wireless and broadband communication business was founded in 1991, has been a long-time supplier to Apple, and their chips have been a component of iPhones. Their total revenue in 2012 was over $8 billion, and in 2013 they were listed as number 327 on the Fortune 500. However, the company has been unable to compete with emerging firms in Asia, and techno-giant, Qualcomm, in San Diego.
The layoffs will save Broadcom an estimated $700 million annually, and they will continue to manufacture Internet-driven devices used in home appliances, thermostats, and mobile technologies. Nearly all of the layoffs will occur on Sept. 26, with the balance taking place in early November.
