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