2021-06-22

4You Dialy

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Before closing the transaction with NVIDIA, ARM has suspended a set of new employees and premium payments.

2 min read

According to The Register edition, ARM stops receiving new employees to work until April 2022, until it is finally closed the deal on its purchase with NVIDIA. In addition, the developer of microprocessor architectures will refuse this time from the financial bonuses system, which are usually paid to employees by the results of the year.

As the publication refers to sources close to this issue, the company not only refuses to hire new employees around the world, but also prohibits new employees to open vacancies in the event of dismissing existing workers.

The department of IP Products Group (IPG) of the ARM company engaged in the development of microcircuits came under freezing. In addition, the company slowed down a set of employees and other departments, including operational, as well as sales, advertising, finance departments, and HR. The set of contractors is prohibited and all work on urgent contracts are frozen.

In the internal letter of employees, the company’s managers reported that ARM was ahead of his plans for hiring new staff. Last year, the staff of the company’s employees increased by 8%. Now ARM must be verified that it is “located in the framework of the planned costs for business.” The statement also states that further issues related to the hiring of new personnel will be discussed directly from NVIDIA and the new Arm rules will report closer to the closure of the transaction.

In ARM since 2016, the Flexpot awards system for employees and contractors for urgent contracts. Its size is determined regional. For example, in the UK it is an employee of 4500 pounds, and in the USA – $ 8,500. According to the company’s internal rules, these funds workers can spend on “activities to support the health and financial well-being of the family”, as well as “on any events related to the study of something new.” In reality, the means is allowed to use to cover any expenses that approve the company’s management. For example, they can be investing in investment funds, use to pay personal trainers, sending children in summer camps, pay for their training, for housing insurance, and also use the quality of deposit funds when renting property.

The feature of the FlexPot system is also not guaranteed annually. However, this year the premium was planned to pay. The Register source reported that the reason for the rejection of the premium is not specified.

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