UK chip designer Arm plans to axe between 12 and 15 per cent of staff as it seeks to streamline its business ahead of a hotly anticipated public listing next year.
Arm on Tuesday confirmed reports that it will cut up to 1,000 jobs, with the majority expected to take place in the UK and the US. The company has about 6,400 staff globally, with 3,500 located in the UK.
The move comes just a month after SoftBank’s planned $66bn sale of Arm to US rival Nvidia collapsed.
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