Arm is planning to cut hundreds of jobs after a takeover deal with US tech giant Nvidia collapsed.
Boss Rene Haas told staff at the Cambridge-based computer chip maker yesterday that the cuts would affect 12 per cent to 15 per cent of its 4,400 strong global workforce – meaning over 600 jobs could be at risk.
Arm employs around 1,800 people in the UK.
Arm boss Rene Haas told staff of the Cambridge-based computer chip maker that 12% to 15% of its 4,400 strong global workforce- some 600 people- could lose their jobs
Haas said most of the redundancies would be in the UK and the US and that the process would be ‘a tough time for everyone’ but the company needed to be ‘more disciplined’ about its costs, the Daily Telegraph reported.
An Arm spokesman said the company was ‘continually reviewing its business plan’ and that ‘unfortunately, this process includes proposed redundancies’.
Arm’s plan to swing the axe came after its planned £31billion takeover by Nvidia fell through last month amid opposition from British regulators.
The firm, which makes chips for electronic devices such as smartphones and is owned by Japanese conglomerate SoftBank, is considering a blockbuster listing on either the New York or London stock market.
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