Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
NVIDIA announces workforce reduction
Posted on 19-Sep-2008 09:48. | Tags Filed under: News.



NVIDIA Corporation has 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 26th October 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 US$7 million to US$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.




comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

Good riddance to Obama and his drones. Pakistani villagers will be saying the same.
Created by amiga500, last reply by MikeB4 on 22-Jan-2017 10:48 (92 replies)
Pages... 5 6 7


The President Of The USA: Donald Trump
Created by TimA, last reply by Dratsab on 22-Jan-2017 10:32 (1839 replies)
Pages... 121 122 123


Xtra email no longer receives on Outlook 2003 / Outlook 2011 for MAC
Created by lNomNoml, last reply by hio77 on 21-Jan-2017 22:59 (41 replies)
Pages... 2 3


Lost Mp3 collection, how to rebuild on the cheap (legally)?
Created by TeaLeaf, last reply by kickintheeye on 18-Jan-2017 23:05 (18 replies)
Pages... 2


New Ford Mustang or Holden Commodore or alternatives
Created by MikeB4, last reply by driller2000 on 21-Jan-2017 12:39 (63 replies)
Pages... 3 4 5


$1160 for a car battery??!!
Created by jonathan18, last reply by jonathan18 on 22-Jan-2017 09:19 (57 replies)
Pages... 2 3 4


Upsize my American houses to McMansion value deal.
Created by kingdragonfly, last reply by richms on 18-Jan-2017 15:48 (14 replies)

Spec check on laptop for GoPro editing please
Created by martyyn, last reply by richms on 20-Jan-2017 17:23 (13 replies)