Marvell CEO Says Tablets Are Threat To "Monster" PCs
Marvell Technology Group signage outside the company's headquarters building in Santa Clara, Calif. Photograph by David Paul Morris — Bloomberg via Getty Images

Marvell Technology Is Cutting 900 Jobs

Nov 02, 2016

Marvell Technology 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.

Get Data Sheet, Fortune’s technology newsletter.

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

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions