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Arm to lay-off up to 1,000 workers as it preps for IPO
By Peter Clarke, eeNews Europe (March 15, 2022)
Processor licensor Arm Ltd. is set to lay off 12 to 15 percent of its staff – about 1,000 employees – as it prepares for an initial public offering of stock.
The CEO, Rene Hass, has sent an email to staff discussing the cuts, which has been seen and reported by the UK’s Daily Telegraph. Haas was appointed to replace Simon Segars when SoftBank Group’s proposed $66 billion sale of Arm to Nvidia Corp. collapsed.
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