Nvidia cuts workforce by 6.5 percent

Massman · 18th September 2008, 23:33

We have learned that Nvidia will shed 6.5 percent of its 5,500-strong global workforce—equating to approximately 360 employees—before the end of its third fiscal quarter.

The job cuts come following dramatic changes to the company's business outlook during the second quarter and will be company-wide cuts. There will be job losses in all business units, in all regions – because of this, there will be some internal reshuffling following the cuts.

Although Nvidia's business outlook has changed, the company says it is still making significant progress in its key growth areas, namely with its CUDA parallel computing technology and also its Tegra system on a chip, and will continue to invest heavily in high growth opportunities.

http://www.bit-tech.net/news/2008/09...-6-5-percent/1

19th September 2008, 04:59

Amazing how quickly things turn around... NVIDIA would have been at the top and still growing, or at least doing well if the defective GPU issue had never occured.

18th September 2008, 23:33	#1
Massman [M] Reviewer Join Date: Nov 2004 Location: Waregem Posts: 6,466	Nvidia cuts workforce by 6.5 percent We have learned that Nvidia will shed 6.5 percent of its 5,500-strong global workforce—equating to approximately 360 employees—before the end of its third fiscal quarter. The job cuts come following dramatic changes to the company's business outlook during the second quarter and will be company-wide cuts. There will be job losses in all business units, in all regions – because of this, there will be some internal reshuffling following the cuts. Although Nvidia's business outlook has changed, the company says it is still making significant progress in its key growth areas, namely with its CUDA parallel computing technology and also its Tegra system on a chip, and will continue to invest heavily in high growth opportunities. http://www.bit-tech.net/news/2008/09...-6-5-percent/1 __________________

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19th September 2008, 04:59	#2
Kougar Posts: n/a	Amazing how quickly things turn around... NVIDIA would have been at the top and still growing, or at least doing well if the defective GPU issue had never occured.