Chip Giant Arm Set to Axe 15% of its Staff After Deal Fails
upstart writes:
Chip giant Arm set to axe 15% of its staff after deal fails:
UK computer chip designer Arm Holdings has said it plans to cut up to 15% of its workforce. The redundancies have emerged just a month after the collapse of the firm's $40bn sale to US chipmaker Nvidia. If the proposals go ahead most job losses would be in the UK and the US, the Cambridge-based company said.
Arm's chip designs are licensed to brands including Apple and Samsung and are used in most smart phones and other products around the world.
Arm employs close to 6,400 people worldwide. The company said in a statement: "Like any business, Arm is continually reviewing its business plan to ensure the company has the right balance between opportunities and cost discipline.
"Unfortunately, this process includes proposed redundancies across Arm's global workforce."
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