Qualcomm could lose 30% of workforce
- Author:Ella Cai
- Release on:2017-12-18
Bad news for Qualcomm is that, if Broadcom succeeds in buying it, 30% of its employees may lose their jobs.
Apparently, over the last four years and five acquisitions by Broadcom, around 30% of the employees of the five companies bought – some 5000 people – have lost their jobs.
Broadcom CEO Hock Tan (pictured) told the New York Times that the 30% figure is “not far off.”
It includes figures for business units which are sold off.
Tan said he expects its Brocade acquisition would see a jobs shrinkage from 5,500 to 1,500 as a result of unit sales.
Tan said his strategy was necessary in an industry where growth has slowed and winning market share has become difficult.
He said that managers who thought they could engineer their way out of problems were fighting the battles of the past.
Apparently, over the last four years and five acquisitions by Broadcom, around 30% of the employees of the five companies bought – some 5000 people – have lost their jobs.
Broadcom CEO Hock Tan (pictured) told the New York Times that the 30% figure is “not far off.”
It includes figures for business units which are sold off.
Tan said he expects its Brocade acquisition would see a jobs shrinkage from 5,500 to 1,500 as a result of unit sales.
Tan said his strategy was necessary in an industry where growth has slowed and winning market share has become difficult.
He said that managers who thought they could engineer their way out of problems were fighting the battles of the past.
