Broadcom winds down baseband unit, cuts 2,500 jobs

Broadcom on Tuesday said it is winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit.

Chief executive Scott McGregor told analysts on a conference call that after Broadcom said in early June it would exit baseband and then tested the market for a possible sale, the company decided to shut it down.
Source: Times of India