New uproar in recent ARM history. The Cambridge, UK-based company announced to the British press on March 14 that it would cut 15% of its workforce worldwidei.e. 1,000 fewer jobs.
Accumulation of difficulties on the side of ARM
This announcement comes barely a month after the official abandonment of the acquisition of ARM by Nvidia for 40 billion dollars, for regulatory reasons. SoftBank, owner of the world’s leading chip designer since 2016, decided, after this failure, to apply its plan B, to float ARM on the stock market. A case that also promises to be complex…
The company’s former CEO, from 2013 to February 2022, Simon Segars, had said that ARM could not keep up with a sufficient level of investment without Nvidia’s support. When SoftBank arrived, ARM took the opportunity to grow and double its workforce, which now has around 6,500 employees.
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Engineers will be spared
In the statement released by the company there is no mention of the change of ownership. The press release explains that “ Like any business, ARM continually reviews its business plan to ensure the business has the right balance of opportunity and cost discipline. “.
Its new CEO, Rene Haas, explained to the Telegram“ To stay competitive, we must remove duplication of work now that we are one arm, stop work that is no longer essential to our future success. “.
According to information from Bloomberg, engineers will not be affected by the upcoming layoffs. The United States and the United Kingdom, where 3,000 ARM employees are based, will be the two countries most affected by this decision.