Employment News
Marvell Technology Cuts 850 Jobs
By Erik Even | Dated: 03-06-2009
California’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.
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