Layoffs
Nvidia punishes 360 after missed earnings
Nvidia is giving game-over notices to 360 employees by the end of October. The layoffs represent 6.5% of the company’s head-count, and will cost around $10 million in severance. In a statement, company CEO Jen-Hsun “Husuhuh” Huang had this to say:
“[Nvidia is] taking fast action to enhance our competitive position and restore our financial performance.”
If you want to take part in this enhancement of competitive positioning and financial performance, don’t forget to drop by their jobs page!
A first look at that article, and I thought its “Nvidia punishes 360 after missed (earrings)” . Then I wondered why a firm should punish people for the missed earrings or jewellery of the chairwoman or someone, only till i realized I had read wrongly.