Arm to reduce workforce by up to 15 percent after Nvidia deal collapses

UK chip designer Arm could reduce its workforce by 15 percent after the collapse of its sale to Nvidia.

Nvidia terminated its $40 billion acquisition of the semiconductor and software design company in February this year due to regulatory challenges.

Now, the BBC is reporting that Arm intends make up to 15 percent of its employees redundant, with the bulk of those layoffs taking place in the UK and United States.

Arm seemed to confirm the move in a statement, with the company explaining it's "continually reviewing its business plan to ensue the right balance [...] between opportunities and cost discipline."

"Unfortunately, this process includes proposed redundancies across Arm's global workforce," it added. 

Arm currently employs around 6,400 people globally and has a number of notable clients including Apple, which uses Arm architecture in its own Apple silicon chips.