Layoff has begin in tech sector, does anyone know if Marvell is planning layoffs?
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CEO has announced another round, 3rd layoff in 8 months
1500 will make a noise which is about 15%, total employees,
Will they be rescinding job offers?
Likely 1500 headcount reduction. Saving company $250 million. To account for the growth rate reduction in revenue for 25% in 2022 to only flat growth by end of 2024. This layoff might give then 5% revenue growth by 2024 by cuts alone.
Does anyone know percentage and business units ?
Absolutely, the CEO has basically said it will happen by end of March. In the last 4 years, there have been 7 layoffs.
Definitely. Wait to hear in few weeks. May not be big to make it in news.