ARM fires 1000 staff

Stefan Mileschin · 17th March 2022, 08:47

Lead up to IPO

ARM has told 1000 of its staff to clear out their desks and get themselves onto a dole queue as it prepares itself for an IPO.

For those who came in late, ARM was going to be flogged off to Nvidia for about $40 billion but governments and the industry threw up their collective hands in horror when they realised that Nvidia would have rather a lot of power.

Having given up on selling their souls to a Roman vengeance daemon, ARM thought it would be wider to get in a new CEO and go public.

Rene Haas has been warming the CEO’s chair for a month and decided to call in the Axemen to chop between 12 and 15 per cent of staff.

In an email Haas said: "To stay competitive, we need to remove duplication of work now that we are one ARM; stop work that is no longer critical to our future success; and think about how we get work done."

https://fudzilla.com/news/54536-arm-fires-1000-staff

17th March 2022, 08:47	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 149,178	ARM fires 1000 staff Lead up to IPO ARM has told 1000 of its staff to clear out their desks and get themselves onto a dole queue as it prepares itself for an IPO. For those who came in late, ARM was going to be flogged off to Nvidia for about $40 billion but governments and the industry threw up their collective hands in horror when they realised that Nvidia would have rather a lot of power. Having given up on selling their souls to a Roman vengeance daemon, ARM thought it would be wider to get in a new CEO and go public. Rene Haas has been warming the CEO’s chair for a month and decided to call in the Axemen to chop between 12 and 15 per cent of staff. In an email Haas said: "To stay competitive, we need to remove duplication of work now that we are one ARM; stop work that is no longer critical to our future success; and think about how we get work done." https://fudzilla.com/news/54536-arm-fires-1000-staff

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