By editorial@silicon.com, 1 August 2001 14:45
NEWS Chipmaker Arc International has announced plans to downsize its workforce by 20 per cent. The news comes after second quarter results showed a £6.1m net loss. The company, based at Elstree, Herefordshire, has almost half its 292-strong workforce based in the UK. The losses are a result of "challenging market competition". However, a spokesman for ARC insists "interest in [Arc's] products continues to increase". So far today, Arc's share price has fallen by 3p to 49.5p.
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