© alexey utemov Business | September 25, 2015

Chipmaker Marvell to restructure - reducing its workforce

Marvell Technology Group will launch a restructuring program of its mobile business, something that will result in an 17% reduction of its global headcount.
The restructuring aims to focus to the mobile product line on profitable opportunities and right-size its expenses in line with corporate targets.

The company says it will continue its commitment to wireless connectivity such as WiFi and other wireless standards needed to support its strategies in existing markets, as well as expanding into opportunities in IoT and automotive.

The successful restructuring of the mobile business is currently expected to result in annualised operating expense savings in the range of USD 170 million to USD 220 million.

The downsizing of the mobile platform organization is currently expected to result in an approximately 17% reduction in global headcount, as of January 31, 2015, the company had a total of 7'163 employees.

The restructuring will begin immediately and the Company expects the major activities to take place through the end of fiscal 2016.
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