Cambridge, England-based Arm Ltd., a semiconductor chip producer and software design company specializing in CPU chipsets, has announced a major cost-cutting reduction in force that will impact between twelve- to fifteen percent of its workforce, or an estimated 1,000 employees located in the United States and the United Kingdom.
The decision appears to follow the failure of the acquisition of ARM by chipmaker NVIDIA due to global regulatory resistance on anti-trust grounds. NVIDIA will remain a major ARM licensee.
According to a company spokesperson, "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."
Japanese conglomerate Softbank appears to be proceeding with its backup plan of taking ARM public -- which might mean greater employee layoffs
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