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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: Memory refresh
By crystal clear on 9/20/2008 6:02:07 AM , Rating: 1
quote:
This means Nvidia needs to find a way of licensing and enabling multi-GPU support on motherboards using Intel and/or AMD chipsets fast.


Match this with this D.T. article-

NVIDIA will Enable SLI on Intel X58

http://www.dailytech.com/NVIDIA+will+Enable+SLI+on...

quote:
On the motherboard makers' side, some makers have already canceled upcoming high-end motherboard projects based on the nForce 7-series chipset.


DFI, Foxconn and Gigabyte have pulled the 790i boards from their product pages.

790i chipset products have "VANISHED"

Check up major vendor/reseller sites they are fast disappearing as they gradually update their product pages/ sites

Another article on D.T.-

Chipmaker Hydra's Stunning Work May Render CrossFire, SLI Obsolete

With the help of Intel Capital backing and over 50 patents, it has developed a technology that seems poised to rock the graphics industry.

You can bet Intel is out to knock both of them out of the competition.

Motheroard makers will take it up & incorp in their mobos in the future.

http://www.dailytech.com/Chipmaker+Hydras+Stunning...

It appears Nvidia has a very serious problem from notebooks to desktops & prefers NOT to talk about it

So these layoffs were expected & its the first in a series of layoffs,there are more on the planning board.


RE: Memory refresh
By Chiggs on 9/23/2008 5:35:06 PM , Rating: 2
Uh, I think you're forgetting one important factor:

quote:
Unfortunately there is one key catch with current technologies. Current operating systems like Windows Vista only support one graphics card driver simultaneously running. So until Microsoft allows AMD/ATI and NVIDIA drivers to coexist, a dual system remains entirely impossible and out of Lucid's hands, short of hacking the OS.


Hydra is pretty cool, but there will be significant roadblocks.


"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)














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