Tech layoffs widen: Semiconductor maker trims scores of Bay Area jobs
SANTA CLARA — A big Silicon Valley chipmaker intends to slash scores of jobs in the Bay Area, layoffs that are poised to deal a fresh blow to the region’s wobbly tech industry.
Marvell Technology, a Bay Area semiconductor company, has decided to cut nearly 100 jobs in Santa Clara, the company reported in an official filing with the state Employment Development Department.
The chipmaker has cut 96 jobs at one of its principal office sites in Santa Clara, a review of the details of a company WARN notice filed with the EDD shows.
Marvell is laying off 133 workers throughout California, the company stated in three WARN notices it sent to the state EDD.
Besides the Bay Area cutbacks, Marvell also aims to eliminate 33 positions in Southern California. The tech company has decided to chop 29 jobs in Irvine and four in Westlake Village, according to state WARN notices.
The company said the layoffs affect employees who work at or are affiliated with the three offices.
Marvell didn’t specify the factors that triggered the layoffs. However, faltering demand worldwide for semiconductors has jolted Marvell and other tech companies.
Over the 12 months that ended in January 2023, Marvell lost $163.5 million on revenue of $5.92 billion.
Marvell isn’t the only chipmaker that has reduced staffing in recent months.
Intel, a legendary semiconductor manufacturer, has eliminated 490 jobs in Santa Clara and San Jose since mid-2022.
Starting in July 2022, tech companies have revealed plans to eliminate more than 19,700 jobs in the Bay Area, according to this news organization’s assessment of the WARN notices on file with the state EDD. Some of the layoffs have occurred while others are scheduled to take place.
Marvell stated that it expects its layoffs in Santa Clara and Southern California to be effective starting on May 22 of this year. The company said it doesn’t intend to recall the employees at a later time.
“The affected employees will be permanently separated from the company,” Marvell stated in the WARN notice.