Arm will reportedly lay off 15% of its workers following a failed Nvidia acquisition

Last month, Nvidia officially confirmed that its acquisition of Arm was being terminated due to complications with convincing regulators that the merger would not affect Arm’s free licensing model. Softbank (Japanese investment company and current owner of Arm) is on the hook for a $1.25 billion fee. Following the failed acquisition, The Telegraph reports that Arm’s new CEO Rene Haas told staff on Monday that the company faces redundancies that “could affect up to 1,000 employees”. Arm employs 6,400 staff and 3,500 of them are in the UK. Haas explains to staff that most layoffs will...

via shopmatrix