Marvell to lay off employees in Israel
The chip firm is set to embark on a restructuring plan.
Shmulik Shelah 21 Nov 07 19:26
Sources inform ''Globes'' that chip giant Marvell Technology Group (Nasdaq: MRVL) is set to launch a restructuring of its operations in Israel. The company, which currently employs 1,200 people in Israel, will step up the consolidation of the various businesses it has acquired here, leading to a likely loss of 100-200 local jobs. Most the jobs lost will be at Marvell's branches in Ramat Hehayal and Petah Tikva, which were formerly owned by Radlan, and DSPC.
Marvell is one of the more interesting chip companies in the market, largely as a result of its aggressive acquisition drive in recent years. The company started out in the mid-1990s as a producer of processors primarily for the storage, telecommunications, and consumer product markets. One of its advantages (which, incidentally, is also typical of its competitors in the chip world such as Broadcom Corp. (Nasdaq: BRCM) ), is its ability to make large acquisitions quickly and integrate the new technologies.
A spokesperson for Marvell Israel said, "We have never commented on hearsay and this remains our policy. If and when we have anything to report to the media, we will do so."
Published by Globes [online], Israel business news -
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