28 Sep '15, 11am

Marvell Technology Group Ltd. Announces Significant Restructuring of Mobile Platform Business #semIP

Based on preliminary estimates for the first half of fiscal 2016, the Company's mobile platform generated roughly $122 million in revenues and roughly $13 million in gross profit. The successful restructuring of the mobile business is currently expected to result in annualized operating expense savings in the range of $170 million to $220 million. Included in this operating expense savings is estimated share based compensation in the range of $15 million to $20 million. The downsizing of the mobile platform organization is currently expected to result in an approximately 17% reduction in global headcount. The restructuring will begin immediately and the Company expects the major activities to take place through the end of fiscal 2016. As a result, the Company expects to incur total charges of approximately $100 million to $130 million. The major components of the total cha...

Full article: http://www.design-reuse.com/news/38329/marvell-mobile-pla...

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