Broadcom announces job cuts, weaker sales forecast

said it is cutting as many as 1,150 jobs and forecast fourth-quarter revenue below analysts’ estimates as demand slows for its chips that connect mobile phones to the Internet.

The Irvine company’s shares fell as much as 8.6% in late trading. Sales will be about $1.98 billion, plus or minus 3%, the company said Tuesday.

Posted: 2013-10-23 04:05:00

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