Broadcom / Cutting 1,150 jobs

Broadcom said that during the third quarter it started a restructuring plan to reduce expenses, including cutting its workforce by up to 1,150 employees.

Like larger Intel, Broadcom has been slow to launch chips featuring multimode, carrier-validated LTE, or Long Term Evolution, a technology allowing fast data transfer rates in smartphones that has become widely adopted in the United States.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Broadcom revenue forecast misses views; shares fall 5 percent | Reuters.