Marvell Technology Group, the maker of chips for Apple's iPod, will cut 400 jobs to trim operating expenses after the company reported a net loss for the fiscal third quarter.

The employees represent about 7 percent of the workforce and will occur mostly in the United States and Israel, Bermuda-based Marvell said in a statement Tuesday.

The job cuts will cost as much as $8 million in the fourth quarter of 2008, Marvell said. For the three months ended Oct. 27, operating expenses were $368 million, up 43 percent from a year earlier. The company had a net loss of $6.4 million, or 1 cent a share.

By: DocMemory
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