Announcement: 1000 employees of this British company will become unemployed, preparing to fire 15% of the staff

UK-based chip designer company Arm Holdings has made a big announcement, which will directly affect the company’s employees. Actually, the company has announced the removal of 15 percent of its employees. A report said that the company last month signed a $40 billion deal with US chip maker Nvidia, which could not go ahead due to some reasons. After the break of this deal, the company has made this big announcement.

Works for Apple-Samsung

The report said that Arm Holdings is preparing to lay off its employees in the US and UK. According to the report, this company also designs chips for big companies like Apple and Samsung. They are used worldwide in smartphones and other electronic devices. Let us tell you that this British company has about 6,400 employees worldwide. In this context, about 1,000 employees are at risk of becoming unemployed.

Conditions of companies deteriorated during the Corona period

Significantly, during the crisis of Corona epidemic, sales of electronic components increased, but the shares of chip companies declined. Due to this these companies have to struggle hard to meet the demand. Let us tell you that Arm Holdings is an investment of Japanese company SoftBank, which bought it in 2016 for $ 32 billion. He planned to sell it to Nvidia for $40 billion. But SoftBank had pulled out of it, citing regulatory hurdles.