UPDATE: In a significant move, chip giant Broadcom has announced job cuts affecting sales and account management roles this week, as reported through LinkedIn posts. The layoffs, which took place on Thursday, come amid the company’s ongoing integration of VMware, following its acquisition in late 2023.
The exact number of positions impacted remains unclear, but sources indicate that the cuts primarily targeted sales, customer success, and solutions roles. This latest decision aligns with Broadcom’s broader strategy of streamlining operations, particularly after halving VMware’s workforce earlier this year.
Broadcom, valued at approximately $1.65 trillion, has been riding the wave of the booming artificial intelligence sector, focusing on designing chips that support advanced AI technologies. Recently, the company secured a strategic agreement with OpenAI to provide 10 gigawatts of custom AI accelerators, further solidifying its position in the tech landscape.
Despite the layoffs, Broadcom continues to elevate prices on VMware’s products, a decision that reflects its commitment to profitability amid a challenging economic environment. The recent job cuts are part of rolling reductions implemented at Broadcom, indicating a strategic pivot as the company navigates the complexities of the tech market.
As this situation develops, industry watchers and affected employees are keenly awaiting further announcements from Broadcom. The company has yet to issue a public comment regarding the layoffs, leaving many questions unanswered.
Stay tuned for more updates on this breaking story as we monitor the impact of Broadcom’s decisions on its workforce and the technology sector at large.