Marvell Technology Cuts 850 Jobs
Post Views 6California’s Marvell Technology Group will cut 15% of its workforce, or 850 jobs.
Marvell, which manufactures semiconductor components for the iPhone and BlackBerry, has seen a drop-off in demand.
The job cuts will come from all areas of the company. The firm has imposed company-wide salary freezes, cut some salaries, suspended bonuses and consolidated facilities.
Marvell posted a loss in its fiscal Q4 of $65 million, versus a profit of $1.3 million a year ago.
The company is incorporated in Bermuda but has headquarters in Santa Clara, California.
Marvell Technology Cuts 850 Jobs by Harrison Barnes