| Friday, September 19 2008 |
NVIDIA Corporation today announced a workforce reduction to allow for continued investment in strategic growth areas. As a result, NVIDIA expects to eliminate approximately 360 positions worldwide, or about 6.5 percent of the Company's global workforce. The reduction is expected to be completed by the end of the third quarter of fiscal 2009 ending October 26, 2008. NVIDIA will provide employees affected by this reduction with severance packages, counseling, and job placement services. "Our action today is difficult, but necessary considering current business realities. Despite our reduction, we will continue to invest in selective high-growth opportunities like our revolutionary CUDA parallel computing technology and our Tegra mobile single-chip computer," said Jen-Hsun Huang, president and CEO of NVIDIA. "We are taking fast action to enhance our competitive position and restore our financial performance. All of us at NVIDIA are determined to emerge from these challenges an even stronger company." The Company expects to record restructuring-related charges of approximately $7 million to $10 million in the third quarter of fiscal 2009 in connection with the reduction. These pre-tax charges are comprised of severance and related expenses and are expected to be charged primarily against NVIDIA's operating expenses.
Source: NVIDIA
Source: NVIDIA
User comments
How many of them are from the mobile Gfx section?
Ouch that hurts.. Looks like the sale's of the GTX200 series were worse than we thought..:ohwell:
by: Nick89;981927nah I think it has more to do with the mobile fiasco. recalls aren't cheap and drop sales as consumers are more reluctant to buy again. besides the mid and low range is where the most money is made and nvidia is doing quite well there.
Ouch that hurts.. Looks like the sale's of the GTX200 series were worse than we thought..:ohwell:
by: malware;981872
NVIDIA Corporation today announced a workforce reduction to allow for continued investment in strategic growth areas. As a result, NVIDIA expects to eliminate approximately 360 positions worldwide, or about 6.5 percent of the Company's global workforce. The reduction is expected to be completed by the end of the third quarter of fiscal 2009 ending October 26, 2008. NVIDIA will provide employees affected by this reduction with severance packages, counseling, and job placement services. "Our action today is difficult, but necessary considering current business realities. Despite our reduction, we will continue to invest in selective high-growth opportunities like our revolutionary CUDA parallel computing technology and our Tegra mobile single-chip computer," said Jen-Hsun Huang, president and CEO of NVIDIA.
I hope they follow through with this. Very few companies do much.
wonder how many will end up at AMD/ATI ?
Wonder how many have a briefcase full of schematics and a laptop with slides and just happen to already be working for AMD, off the books :)
Shame for the employees, but that's what you get when you work for globalised companies.
Shame for the employees, but that's what you get when you work for globalised companies.
by: newconroer;982345it's doubtful that the employess didn't see this coming. I'd be surpirsed if any of them didn't already have a different job. I mean cmon if their smart enough to engineer gpu's they'll know when it's time to go job hunting.
Wonder how many have a briefcase full of schematics and a laptop with slides and just happen to already be working for AMD, off the books :)
Shame for the employees, but that's what you get when you work for globalised companies.
I think it's justice that they have to do this, it preserves balance in the market.
You get rid of any type of staff but your GPU engineers, not gonna happen...
by: xfire;981882
How many of them are from the mobile Gfx section?
lol.
It's more of a meltdown(the solder)
It's more of a meltdown(the solder)
by: xfire;981882None. Bump-processing is handled by sub-contract holders. It seems NV (TSMC) has reduced this to one holder. NVIDIA does not have "factories" of its own. It's a fabless company. TSMC/UMC makes their stuff. They outsource parts of the mfg process to smaller companies. So none of NV's own employees are to blame for the mGPU fiasco.
How many of them are from the mobile Gfx section?
by: btarunr;983186
None. Bump-processing is handled by sub-contract holders. It seems NV (TSMC) has reduced this to one holder. NVIDIA does not have "factories" of its own. It's a fabless company. TSMC/UMC makes their stuff. They outsource parts of the mfg process to smaller companies. So none of NV's own employees are to blame for the mGPU fiasco.
there still could be some people fired from the mGPU department even if they aren't responsible for it. They would have have laid of workers from any department they saw fit.(you know what I mean)
by: xfire;983254Unless there are plans to close-down or reduce priority on mGPU production, that sounds illogical.
there still could be some people fired from the mGPU department even if they aren't responsible for it. They would have have laid of workers from any department they saw fit.(you know what I mean)