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Marvell announces major restructuring of mobile business
2015-09-25 09:35:00| Telecompaper Headlines
(Telecompaper) Marvell Technology announced plans for a significant restructuring of its mobile platform business in order to focus on more profitable products and opportunities. Going forward, the company will focus on wireless connectivity products, including Wi-Fi and other wireless standards needed to support its strategies in existing markets as well as expanding into emerging opportunities in the IoT and automotive segments. The restructuring plan will see the company cut 17 percent of the workforce associated with mobile and reduce annual operating costs by a total USD 170-220 million. The mobile platform business is currently expected to reach a gross profit of USD 13 million on revenues of USD 122 million in the first half of fiscal 2016. The restructuring will begin immediately and the company expects the major activities will take place through the end of fiscal 2016. The cost of the restructuring is estimated at USD 100-130 million, including USD 45-55 million in costs for the lay-offs in the second half of the fiscal year. Other major components include facilities and asset impairment charges of USD 30-40 million and an inventory writedown of USD 25-35 million. The company said it will discuss the restructuring of the mobile platform business in more detail during its next quarterly earnings conference call, the date of which is yet to be determined.
Tags: business
major
mobile
announces
Cooling Tower Maintenance Not Just Good for Health, Its Good Business
2015-09-25 09:00:00| National Real Estate Investor
Regular inspection and maintenance of cooling towers is not just a health issue, it is essential to insure the peak operation and extend the lifespan of this critical equipment. read more
Tags: good
business
health
maintenance
UK business vote on EU 'up for grabs'
2015-09-25 02:17:57| BBC News | Business | UK Edition
Half of business people are awaiting the outcome of the UK's EU reform talks before taking their final position on EU membership, a survey suggests.
Exclusive: Pivoting after failed Syngenta bid, Monsanto to build big data business
2015-09-24 22:02:42| Chemicals - Topix.net
"We transformed from industrial chemical company to a biotech company, then to a seeds company," Fraley said. "Now, we're transforming again."
Fast Genetics hires Steve Sornsen as director of U.S. business development
2015-09-24 19:35:00| National Hog Farmer
Fast Genetics appoints Dr. Steve Sornsen as its Director of US Business Development. read more
Tags: business
development
fast
director
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