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UK – British chipmaker arm announces layoffs of up to 15 per cent of its workforce

Softbank and arm logos Image: AFP

British chip developer Arm plans to lay off 15 per cent of its workforce. The company announced on Tuesday that it had decided not to acquire Nvidia in February.

British chip developer Arm plans to lay off 15 per cent of its workforce. The company announced on Tuesday that it had decided not to acquire Nvidia in February. Competing authorities stopped the acquisition with a value of $ 40 billion (.4 36.4 billion). “We estimate that 12 to 15 percent of the global workforce could be affected,” the company said.

According to media reports, a large part of the job cuts may have been in UK and US employees. Like any other company, Arm is constantly reviewing its business strategy and unfortunately the company says that this process has created “layoffs in its global staff”.

Founded in 1990, Arm manufactures microchips that are manufactured and used by companies such as Nvidia, which primarily manufactures graphics cards. Competitive executives around the world have expressed concern over Nvidia’s acquisition. In December 2021, US authority FTC announced that Nvidia, one of the world’s largest chip makers, would use the acquisition to gain control of arm-developed technologies that would also be used by Nvidia’s competitors.

Japanese Softbank Group acquired Arma in 2016 for $ 32 billion. After the failed acquisition, the group is now trying to make the hand public.

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