Market Pulse
Marvell reportedly to shed 4% of workforce
Marvell Technology Inc. (MRVL) reportedly will shed 4% of its global workforce, the latest Silicon Valley company to announce job cuts, citing a slowdown in the semiconductor industry. Late Tuesday, Bloomberg News reported that Marvell said it was going to trim its workforce of 320. The company last reported having 7,448 employees. Shares of the chip maker were down less than 0.1% after hours, following a 1.9% gain to close the regular session at $41.13.
-Wallace Witkowski
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 21, 2023 18:54 ET (22:54 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
, 
, 
Copyright ©2023. All rights reserved.