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Arm weighs up to 1,000 job cuts ahead of planned IPO

SoftBank-owned chip designer eyes cost cuts after nixed sale to Nvidia

SoftBank Chairman and CEO Masayoshi Son has described the Arm listing as "the largest IPO in semiconductor history."   © Reuters

LONDON -- U.K. chip designer Arm has plans to eliminate up to 1,000 jobs in a cost-cutting move as the SoftBank Group-owned company prepares for an initial public offering.

"Like any business, Arm is continually reviewing its business plan to ensure the company has the right balance between opportunities and cost discipline," an Arm spokesperson said in a statement to Nikkei.

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