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ARM cuts up to 20% of staff in the UK

2025-01-19 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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CTOnews.com, October 5 (Xinhua)-- ARM, a low-power chip designer, has reduced its UK workforce by 20 per cent, according to the Financial Times. The move violates a recruitment promise made to the UK government by Softbank Corp. when he acquired the technology company in 2016.

ARM makes money by selling licenses to other companies, such as Apple and Samsung, to make its chips, but it does not make any of its own products, and its interest in its processors is growing: the rise of low-power development boards such as raspberry pie and many of their alternatives, the storm of Apple's Apple Silicon M-Series in the computing world, and the emergence of higher-power Qualcomm chips in laptops and high-end smartphones.

Compared with employees in other countries, 18 per cent of global layoffs seem to fall more on UK workers. The number of employees around the world has been reduced by 550, but 700 jobs have been terminated in the UK. In the UK, ARM has 3500 employees, but it has now shrunk to 2800 after layoffs. The move comes after the failed acquisition of Nvidia, which values the company at $66 billion. Rene Haas, CEO of ARM, recently welcomed the update of the company's board of directors, saying the company needs to avoid duplication of work, control work on non-critical projects, and exercise stricter management of administrative expenses.

However, the move angered the British union Unite, which in March called for a moratorium on layoffs so that financial inspections could find out whether the company really needed layoffs. The company had net income of just over $2 billion (about 14.16 billion yuan) in the nine months to December 31, 2021, but made a profit of only $260000 (about 1.841 million yuan). A statement by an ARM spokesman at the time suggested that "12 per cent of 15 per cent" of employees might be affected. CTOnews.com learned that Softbank Corp. himself reported a huge loss of $23.4 billion in the first quarter of fiscal year 2023 (beginning September 1, 2022) due to significant writedowns in the investment valuation.

When Softbank Corp. took over ARM in 2016, he promised to double his workforce and achieved this goal by hiring 1730 new employees, bringing the UK's workforce to 3500. According to today's announcement, 40% of the employees have been laid off.

ARM, which is expected to go public but has not yet announced IPO, has posted 373 jobs in the UK, most of them in engineering.

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