Sat. Sep 23rd, 2023

Facebook / Twitter / YouTube / Instagram / News / Discord / Forums / Telegram / WhatsApp The impact after the fall of the Arm Holdings purchase agreement by Nvidia has been very strong, initially because the financial expectations of both companies had to be modified, evaporating thousands of millions of dollars, and now with a regrettable decision for the workforce of the British company, since many of them will be left without work.

Arm Holdings Announces Layoff of Hundreds of Workers

The echoes of the cancellation of the Nvidia – Arm purchase operation continue to sound and this time there is bad news for the chipmaker as it was revealed that it will lay off almost 1000 workers. The above is reported by the BBC (via indicating that the expectation of dismissal of personnel is up to 960 employees, 15% of the workforce of Arm Holdings. In this regard, Arm Holdings issued a statement confirming that there will be cuts after the collapse of the purchase by Nvidia, an operation that was estimated at $40,000 million: “Like any business, Arm is continually reviewing its business plan to ensure that the company strike the right balance between opportunity and cost discipline. Unfortunately, this process includes proposed redundancies across Arm’s global workforce.”
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Why did the deal between Nvidia and Arm fall through?

In case you didn’t know, in 2020 Nvidia took a very important step in the market by trying to acquire Arm Holdings, a company specializing in semiconductors and chips. However, from the beginning the intention of the North American company was criticized and considered as a threat with hints of monopoly because outside of Arm, there is no other company at that level, so that companies in the computer and mobile device sector raised the voice before the risks that Nvidia had control of it. The sale and purchase operation was reviewed by the commercial authorities of the United States, the United Kingdom and China, concluding that Nvidia’s attempt did represent a monopoly strategy and, since it went against the laws that exist in this regard, they canceled the deal. Subsequently, Nvidia’s situation has not been entirely good as the company was the victim of a Ransomware attack that stole important information. For its part, Arm Holdings modified the plans that had been made around the purchase and will now adjust so as not to lose course, although this means that hundreds of workers will lose their jobs at the United Kingdom and United States headquarters. Still here at WTTSpod. Source

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