ARM cuts workforce after suffering sales drop


ARM cuts workforce after suffering sales drop

ARM Holdings, the UK chip designer and one of the UK's best regarded technology companies, is cutting its workforce by 10% after reporting its first fall in quarterly sales.

The Cambridge-based group issued a profits warning two weeks ago and today (15 October), said the headcount reduction would save the company £5m per year.

In the three months to September, ARM made £8m pre-tax profit, down from £16.2m in the three months to June. In the same period it sold just eight new licences, down from 27 in the second quarter

Chief executive Warren East said that by adjusting its cost base to the downturn, ARM would be better positioned to benefit from a recovery in the market.

"In the meantime, we will continue to focus on strengthening our competitive position, building on our leadership in the wireless market and increasing our penetration of newer markets," he added.

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy