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Marvell Technology Is Cutting 900 Jobs

November 2, 2016

Marvell CEO Says Tablets Are Threat To "Monster" PCsMarvell 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 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.

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