Marvell Technology

History

2023:4% staff cut

On March 21, 2023, Marvell Technology, an American developer of memory, microcontrollers and telecommunications equipment, distributed a message on the corporate network about the reduction in staff.

It is said that on a global scale, approximately 320 employees will be laid off, or about 4% of the total number of workers. Marvell says this is a necessary measure related to the slowdown in the development of the IT industry and macroeconomic challenges. The company previously cut jobs in China, but the new reorganization initiative marks the first significant layoffs in several years, affecting the American division as well.

Chip maker Marvell Technology cuts staff

We are optimizing our organizational structure to ensure that employees remain in the best position both in the current environment and after the company copes with the consequences of the industry downturn. In particular, we carefully studied how our teams are distributed across different regions and how management is carried out: this will ensure their optimal performance, Marvell said in a statement.

The chip manufacturer also notes that it intends to maintain a high level of employee involvement in the labor process. Marvell claims that people are the most valuable resource, and therefore the company gives all employees the opportunity to maximize their potential. Marvell talks about creating an environment that fosters collaboration and innovation, inspires employees to work to the limit, and promotes business prosperity.

We are working hard to attract the best professionals in the industry, provide them with the opportunity to learn and grow, and create an environment in which our employees feel motivated, valued and engaged with the possibility of building a long-term career, "the company emphasizes.[1]

2021: $1.1 billion purchase of chip developer Innovium

In early August 2021, Marvell Technology announced the acquisition of Innovium, which develops chips for network equipment, for $1.1 billion. The deal is a buyer's attempt to capture a larger market share of chips used to power the largest and most complex data centers. Read more here.

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