ARM To Drop Up To 15% of Staff

Chip designer and licensor to the stars, Arm, has reportedly dropped around 1,000 workers onto unemployment queues. The Register reports: An email to staff from Arm CEO Rene Haas, seen and reported by the UK's Daily Telegraph, states: "To stay competitive, we need to remove duplication of work now that we are one Arm; stop work that is no longer critical to our future success; and think about how we get work done." Haas, who has been in the chief exec's chair for about a month, added Arm needs "to be more disciplined about our costs and where we're investing." "I write this knowing that although it is the right thing to do for Arm's future, this is not going to be easy," he added. Between 12 and 15 per cent of staff will be let go as a result globally. The biz employs 6,400 worldwide. The job cuts come just a month after the collapse of the company's $40 billion sale to Nvidia. ARM is now pursuing a potential IPO, according to Bloomberg.

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