https://wccftech.com/arm-set-to-cut-hundreds-of-positions-after-deal-with-nvidia-crashes-estimated-15-employed-could-be-affected/

Recently, NVIDIA was working to acquire Arm Technologies for upwards of $40 billion. Government officials and other companies voiced their disapproval of the acquisition, and in turn, Softbank and NVIDIA canceled the deal. Now, Arm is planning to utilize budget cuts by removing hundreds of employees from the company's workforce.

Arm's chief executive officer Rene Haas told staff members earlier this week that twelve to fifteen percent employed by the company could be impacted. The estimated amount of jobs lost is close to a thousand employees. To place this into further examination, Arm employs over 6,500 employees globally. The company states that most jobs affected are located in both UK and US workforce locations.