Arm battens down the spending hatches

By David Manners, ElectronicsWeekly (May 27, 2021)

Arm has gone into cost reduction mode as it awaits the result of its takeover by Nvidia.

According to The Register it has frozen hiring including a ban on backfilling jobs left vacant by departures, has put a stop on new engagements of contractors and has cancelled its FlexPlot scheme which gave US employees $8,500 a year and UK employees $4,500 to spend on certain defined areas.

Previously Nvidia said it would abide by undertakings given by owner Softbank in 2016 that it would double Arm’s UK employees over the following five years to 3494 people.

Click here to read more ...

 Back