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NVIDIA will provide severance packages, counseling and job placement for employees let go

NVIDIA is having a rough time with woes coming from its stock price to its products having stiffer competition in the marketplace from the likes of AMD. NVIDIA announced yesterday that it would be decreasing its work force by over 6.5% in an attempt to save money that it can put towards other areas.

The work force reduction amounts to about 360 employees from its worldwide work force. NVIDIA employees in the U.S. are affected as well.

NVIDIA also announced that it will take a restructuring charge of between $7 and $10 million in its Q3 financial results. The charge will be used to fund severance packages and related expenses.

NVIDIA CEO Jen-Hsun Huang said in a statement, "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. 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."

NVIDIA says that it will provide not only severance packages to affected employees, but it will also provide counseling and job placement services as well. Layoffs at NVIDIA are expected to be complete by the end of Q3.

NVIDIA has more than layoffs on its plate right now. It is fighting a pair of proposed class action lawsuits over whether or not it mislead investors about the potential consequences of GPUs in its notebook products that failed at higher than normal  rates. NVIDIA announced in July that it would take a onetime charge of $150 to $200 million related to expenses and replacements of the GPUs that failed.



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RE: NVIDIA finally getting its just desserts
By rudolphna on 9/19/2008 3:24:31 PM , Rating: 2
they were BFG, I got tired of having my system be unusuabl,e for a week, and having to pay shipping.


By Fnoob on 9/19/2008 3:37:04 PM , Rating: 2
Haven't had to use their warranty yet... that's a bummer to hear that they don't send out an RMA and cover shipping. The way my RROD XB360 was handled was impressive; all returns should be handled so well.

Do you have a quality powersupply rated to handle everything you are using? Stable incoming power in your area? Adequate case cooling? After frying multiple cards, I would begin to question some other variable in your setup / environment.

Better luck to you in the future.


By StevoLincolnite on 9/20/2008 2:48:47 AM , Rating: 2
If nVidia is as bad as you say, then why do I have a Riva 128 that has been working since the almost dawn of 3D acceleration?

Heck, every card I have ever owned has *never* broken down, not sure if it's because of the systems I use them in, or perhaps just luck.

But hardware wise nVidia is as Good as ATI.

Nvidia had the Geforce FX let-down, ATI had the 2900 series let down.

What it should come down to is Price/Performance.

My Main desktop rig has Crossfire 4850's with a PCI Geforce 6200 for multi-monitors. - Works like a charm, seems the Graphics cards don't try and kill each other with hate like I see some people do for using a certain brand.


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