1. Marvell Technology to cut 900 jobs, sell assets

Marvell Technology to cut 900 jobs, sell assets

The company expects to complete the restructuring by end of October next year and bring down costs to $820-$840 million annually from $1.08 billion.

By: | Published: November 3, 2016 6:44 AM

Marvell Technology Group Ltd said it plans to cut about 900 jobs globally and sell non-core assets in a bid to lower costs by as much as $190 million annually.

The company expects to complete the restructuring by end of October next year and bring down costs to $820-$840 million annually from $1.08 billion.

Marvell has about 5,300 employees, according to its website.

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