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Quotes & Info
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| BRCM > SEC Filings for BRCM > Form 8-K on 3-Feb-2009 | All Recent SEC Filings |
3-Feb-2009
Costs Associated with Exit or Disposal Activities
In light of the continuing deterioration in worldwide economic conditions, on January 28, 2009 the Board of Directors of Broadcom Corporation ("Broadcom") committed to a restructuring plan. The plan includes a reduction in Broadcom's worldwide headcount of approximately 200 people, which represents approximately 3% of Broadcom's global workforce. Broadcom began implementing the plan immediately and expects that it will be substantially completed later in 2009.
Broadcom expects to incur approximately $8.0 million to $10.0 million in restructuring costs related to the plan, primarily for severance and other charges associated with the reduction in workforce. Of the total restructuring costs, approximately $2.5 million to $4.0 million is expected to be stock-based compensation expense. Broadcom anticipates that it will recognize most of these charges in the first quarter of 2009, with a portion to be recognized later in 2009.
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