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March 15, 2022 02:28 pm GMT
At this point in time, it's unclear which divisions at Arm will be the most affected. The official statement from Arm so far, doesn't give any hints. "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." With Intel's planned expansion in Europe, there will hopefully be a chance for some of Arm's soon to be former employees to find a job at the competitor.
Original Link: https://www.techpowerup.com/292961/arm-considering-making-15-percent-of-its-workforce-redundant
Arm Considering Making 15 Percent of its Workforce Redundant
After its US$40 billion deal to sell Arm to NVIDIA fell through, it looks like SoftBank is getting ready to tighten the belt over at Arm, to make the company more attractive in time for the planned stock market re-introduction. Arm is said to be looking at making up to 15 percent of its workforce redundant, which is quite a lot of people when you consider that Arm employs some 6,500 people globally. As such, as many as 1,000 people, mainly in the UK and US, are likely to be getting a redundancy notice in the coming months.At this point in time, it's unclear which divisions at Arm will be the most affected. The official statement from Arm so far, doesn't give any hints. "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." With Intel's planned expansion in Europe, there will hopefully be a chance for some of Arm's soon to be former employees to find a job at the competitor.
Original Link: https://www.techpowerup.com/292961/arm-considering-making-15-percent-of-its-workforce-redundant
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