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US Chipmaker Marvell Lays Off Dozens in Israel
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U.S. chip giant Marvell has laid off dozens of employees at its development centers in Israel, impacting one engineering team. The company, which employs about 500 people in Israel, stated the cuts are to align resources with business needs. Marvell has operated in Israel for over 25 years and expressed commitment to continued expansion there. The layoffs come as the company's market value has decreased significantly since June.
The story in 6 lines · by baba
- Marvell laid off dozens of employees at its Israeli development centers, impacting one engineering team.
- The affected centers employ approximately 500 people, and the cuts are not company-wide.
- Marvell Israel's operations are based in Petah Tikva and Yokneam, built on acquired local companies.
- The company specializes in connectivity chips for data centers and recently announced a $115 billion acquisition.
- Marvell stated the layoffs are to align resources with changing business needs.
- The company affirmed its commitment to continued expansion of its Israeli development centers.
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