Marvell will get about 800 engineers focused on application specific integrated circuits, or ASICs, a type of semiconductor that is growing in importance as companies work to handle a rising flood of data.
Boeing acknowledged that it had to correct flaws in its 737 MAX flight simulator software used to train pilots, but did not say when it first became aware of the problem.
CEO Hackett says cuts to be completed by the end of August.
Purchase set to be the company’s biggest since it was formed in 2015.
CEO Scott Wine takes the hit, but Wall Street is the real villain.
The company’s profit margin in the US has shrunk to about 1% to 2%.
Building Lincoln models and the Explorers in China is the plan to turn around the aging product line in China which lost $128 million in the first quarter as sales plunged by 36%.
Lack of inverters, batteries, chargers hold back production.