Broadcom Laying Off LTE and Modem Design Employees

Dawn Kawamoto writes "Within days of closing its deal to acquire LTE-related assets from Renesas Electronics, Broadcom is now taking the hatchet to its own internal LTE and modem design team members by doling out pink slips. Although several hundred Broadcom workers in the U.S. and overseas are getting layoff notices, the figure could go substantially higher because the company expects to cut roughly $45 million in operating expenses relating to the deal between now and the next 12 months."

Smart Move

[EMG at MU]

This isn't people with MBAs being evil, this is good business. They are getting a ton of talented engineers from Renessas. So if you need 100 engineers and all the sudden you buy another company that has another 100 engineers, you keep the best 100 and let the rest go.

Don't ever expect a company to be loyal to you for a split second. If they can can your ass a day before your 40th year anniversary with the company to save a few bucks on the quarterly report they will. They legally have to. Corporations in America have to make the most money they can, and the officers of the company are bound to increase shareholder value.

It is completely amoral. McD and Walmart are not evil for not giving employees living wage, they are just doing their legal duty to increase shareholder value. To attribute the (mis)treatment of employees to anything besides American Corporate Capitalism is ignoring the reality of our economy.