Arm to Let Employees Go as Part of Global Re-Alignment of its IoT Group
The company is currently in the process of laying off several dozen Israeli employees, according to one person familiar with the matter
Hagar Ravet | 09:17 03.04.2019
SoftBank-owned British semiconductor company Arm Holdings PLC is letting employees go in global several locations, including Israel.
For daily updates, subscribe to our newsletter by clicking here.In Israel, the company is laying off several dozen employees, according to one person familiar with the matter who provided the information anonymously. While the company declined to comment on the number of employees to be laid off, an Arm spokesman told Calcalist that the company is continuously evaluating its resources and technology to meet market demands.
Arm employs around 200 people in Israel, mostly in research and development. In 2018, the company moved to new offices in central Israeli city Ra'anana, announcing it intends to hire 150 new employees as part of the relocation. The company ultimately did not expand its local team. In October, Arm announced a partnership with Israeli cybersecurity company Cybereason Inc., to develop secure chip designs for connected devices and sensors, the first of their kind for Arm.