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Old 09-18-08, 08:17 PM   #1
josiahsuarez
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Default layoffs at nvidia?

http://www.theinquirer.net/gb/inquir...nfirms-layoffs
Quote:
Company streamlined to focus on Cuda and Tegra
By Sylvie Barak: Thursday, 18 September 2008, 10:07 PM

WE’VE HAD FORMAL confirmation from Nvidia that it will, indeed, be reducing its global workforce by six and-a-half per cent.

A statement from the firm acknowledged that about 360 unfortunate souls worldwide would be losing their jobs in what the company claims will be its first lay-offs in 13 years.

The layoffs are apparently an effort to get the firm "back on the right growth track" according to director of PR Derek Perez, and will purportedly be completed by the end of the third quarter of fiscal 2009 ending October 26, 2008.

Nvidia CEO, Jen-Hsun Huang said in a statement, "The action today is difficult, but necessary considering current business realities."

He added that, despite job cuts, Nvidia would, "continue to invest in selective high-growth opportunities like our revolutionary CUDA parallel computing technology and our Tegra mobile single-chip computer."

So if you are an employee working on a Cuda or Tegra related project, you are probably safe.

Indeed, the reorganisation seems to be more of a refocusing of attention by the graphics giant than anything else, with the specific aim of channeling more resources into "strategic growth areas".

Doing his best to allay fears the company might be in more serious financial trouble, Jen-Hsun noted, "We are taking fast action to enhance our competitive position and restore our financial performance."

All well and good, but the restructuring itself doesn’t come cheap. Nvidia reckons it can count on the changes costing anywhere between $7 million and $10 million before tax, a sum which will mainly go towards severance payouts.

Several sources have told the INQ that these severance packages are "fair by American standards".

Nvidia has also said it would offer counseling and career placement services to any employee requesting it.
the economy is scary right now
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Old 09-19-08, 02:02 PM   #2
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Default Re: layoffs at nvidia?

What company in the history of the world has not had to fire some of its workforce?

No big deal, unless you are one getting the boot I guess.
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Old 09-19-08, 02:44 PM   #3
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Default Re: layoffs at nvidia?

I've never fired any of my employees.
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Old 09-23-08, 05:22 PM   #4
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Default Re: layoffs at nvidia?

Quote:
Originally Posted by Monolyth View Post
I've never fired any of my employees.
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Old 09-23-08, 05:49 PM   #5
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Default Re: layoffs at nvidia?

The first thing I thought of when the **** hit the fan, How will this affect the graphics card market!!!!

Line of thought was, fewer people buying high end graphics products ,one company goes belly-up and bought by the other , no more competition ,nightmare!!!
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Old 09-23-08, 05:51 PM   #6
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Default Re: layoffs at nvidia?

I've started writing a book:

The Secret to my Success: A Guide to Preventing Layoffs in a Small to Medium Size Businesses.

The sequel to that obvious NYTimes Best Seller will be named:

The Secret to my Success: Getting Suckers to Buy a Book that Will Make Their Small to Medium Size Businesses Fail.
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