TECH - What's Next for Arm Holdings? Over 70 Engineers Gone in China as Global Strategy Shifts | Benzinga
Arm Holdings Plc (NASDAQ: ARM) recently let go of over 70 software engineers in China while it proposed relocating some of the roles outside the Asian nation.
Major chip companies, including Qualcomm Inc (NASDAQ: QCOM), downsized in 2023 as the semiconductor industry faced a downturn due to lackluster demand for electronics.
In November, Arm offered a disappointing sales forecast amid a slump in smartphone sales.
Also Read: Is Intel's Reign In Jeopardy? ARM-Based Challengers Threaten Chip Giant's Legacy
Arm will offer about 15 affected staff different roles working on China-related projects, Bloomberg