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Arm Lays Off Over 70 Engineers in China, Relocating Roles
- Affected employees were supporting clients with Arm global IP
- Chip firms are paring back staffing levels amid a downturn
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Arm Holdings Plc has recently laid off over 70 software engineers in China though it will relocate some of the roles outside of the Asian nation, according to people with knowledge of the move.
The British firm’s actions mirrored those of major chip companies including Qualcomm Inc. that have cut back on the global staffing level earlier this year as the semiconductor industry faces a downturn due to lackluster demand for electronics. In November, Arm gave a disappointing sales forecast amid a slump in smartphone sales.