ARM Layoffs 1000 Employees - So successful 15% of employees fired

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Chip designer Arm said that it plans to lay off 12-15 percent of its staff, putting 1,000 jobs at risk.

"Like any business, Arm is continually reviewing its business plan to ensure the company has the right balance between opportunities and cost discipline," the company said in a statement.

"Unfortunately, this process includes proposed redundancies across Arm’s global workforce."

Arm employs more than 6,500 people worldwide, including 3,000 in the UK
“To be successful in the opportunities we have ahead of us, we need to be more disciplined about our costs and where we’re investing. 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. It’s essential that we focus on activities that will move our strategy forward at pace.

SoftBank acquired Arm, whose technology powers Apple's iPhone and nearly all other smartphones, in 2016 for $32 billion

Agreed to Sell to NVIDIA September 30, 2020

Semiconductor giant Arm won't be sold to Nvidia after all SoftBank has dropped its plans to sell the British semiconductor and software design company Arm to U.S. chipmaker Nvidia. The Federal Trade Commission had sued to block the $40 billion deal.
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