Marvell to eliminate some R&D roles in China
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Marvell Technology (NASDAQ:MRVL) is planning to make some layoffs in China as part of a realignment of its global research and development investments.
The move comes amid geopolitical tensions after U.S. enacted tough sanctions on the Chinese chip sector, restricting U.S.-based equipment makers from servicing Chinese manufacturers of advanced chips.

Marvell (MRVL) did not specify the number of employees to be affected by the move. The company employed 1,000 people in China at one point, around 800 of which were located at its research and development center in Shanghai, according to iJiwei.
Responding to Reuters, Stacey Keegan, vice president of corporate marketing at Marvell (MRVL) said, "In China, we will focus our R&D investments on local customers and the China market. As a part of this realignment, several of our business units and functions are announcing changes to their global location strategy that will result in the elimination of roles in China."
Marvell (MRVL) shares were up 5% shortly before 10AM ET