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> Arm is planning to cut up to 15% of its workforce, the UK computer chipmaker has said, just over a month after the collapse of its $40bn (£30bn) sale to its U

> Arm is planning to cut up to 15% of its workforce, the UK computer chipmaker has said, just over a month after the collapse of its $40bn (£30bn) sale to its US rival Nvidia. But then below: > SoftBank said at the time it would revert to its backup plan of an initial public offering to cash in on Arm, and was to receive a $1.25bn break-up fee from Nvidia. So SoftBank got $1.25 billion because nothing happened, and then they lay off 1,000 people. Classy.

piva00 5y ago
> So SoftBank got $1.25 billion because nothing happened, and then they lay off 1,000 people. Classy. Typical MBA behaviour, they want to IPO so they cut down expenses (salaries) to prop it up as a "leaner and better" company to be sold. Just the usual fucked up way finance took over business over the past decades of hyper-financialisation of everything.