British chip designer Arm is cutting up to 15% of its workforce, just a month after a$40 billion takeover from chipmaker Nvidia collapsed.

Arm CEO Rene Haas, who only took the role in February this year, told staff on Monday that between 12% to 15% of staff will be made redundant as a result of the cuts, according to an internal memo seen by the Daily Telegraph.

Arm employs 6,400 people worldwide, meaning between 768 and 960 jobs could be cut, primarily to UK- and US-based employees. The cuts won't impact employees in engineering roles.

The UK-founded company designs the microchips found in billions of electronic devices, including Apple and Samsung smartphones. It was bought by the Japanese conglomerate SoftBank in 2016 for