NVIDIA CEO sent a letter to employees saying that there would be no layoffs and no salary increase.

NVIDIA CEO sent a letter to employees saying that there would be no layoffs and no salary increase.

The CEO of NVIDIA wrote to his employees that he would not lay off employees, but would get a raise. Huang Renxun said that NVIDIA will take this opportunity to make it a better and more efficient company, and said that the company will continue to adhere to the "current investment level". The CEO of NVIDIA wrote to his employees that he would not lay off employees, but would get a raise.

The CEO of NVIDIA sent a letter to his employees, saying that there would be no layoffs and that he would get a salary increase of 1. According to foreign media reports, leaked emails showed that NVIDIA CEO Huang Renxun assured employees that he would not lay off employees even if the revenue failed to meet expectations, but the company would find and improve all the places where time, processes and materials were wasted.

On Monday, local time, NVIDIA announced its preliminary financial report for the second quarter of fiscal year 2023. The financial report shows that the company's revenue in the second quarter is expected to be about 6.7 billion US dollars, far lower than the company's forecast of 86,543.8 billion US dollars in May, with a decrease of 65,438+09% from the previous month and a year-on-year increase of 3%, mainly due to the lower-than-expected revenue of the game business.

In the second quarter, the company's game business revenue was $2.04 billion, down 44% from the previous quarter and down 33% from the same period last year. Data center business revenue was $3.81billion, up 6 1% year-on-year.

The company said that due to the interruption of the supply chain, although the data center business revenue set a record, it was still slightly lower than the company's expectations.

While NVIDIA promised not to lay off employees, Oracle Bone Inscriptions, Microsoft, Robinhood and other technology companies laid off employees. For example, last month, Microsoft fired some employees.

At the beginning of August this year, foreign media reported that Oracle Bone Inscriptions had begun to lay off employees in the United States, including employees in its Austin, Texas headquarters and some employees in its California office.

Other companies take different ways to deal with the market downturn and economic recession. For example, Google has slowed down recruitment in the face of global economic uncertainty.

NVIDIA CEO sent a letter to employees saying that there would be no layoffs and a pay increase. According to the leaked e-mail, Huang Renxun, CEO of NVIDIA, assured employees that he would not lay off employees even if the revenue failed to meet expectations, but the company would find all the places where time, processes and materials were wasted and make improvements.

A clear stream under the wave of layoffs

Due to the epidemic situation, shrinking international trade and other factors, there are widespread layoffs in large companies around the world, among which the layoffs of domestic Internet companies have been going on for a long time. Google, Tesla, Intel and other international giants have experienced different levels of layoffs.

Huang Renxun wrote: "What does this mean for us? Will we lay off employees? No. On the contrary, we will give you a raise and help you take care of your family, because all of you are facing extremely high inflationary pressure. "

In this context, NVIDIA CEO Huang Renxun not only insisted on not laying off employees, but even used a salary increase to fight inflation, which has to be said to be a clear stream in the industry.

Virtual currency diving causes mining graphics card diving.

As we all know, because investors are generally pessimistic about the economic prospects, mainstream virtual currencies such as Bitcoin have shrunk by more than half or even more than two-thirds. Under such circumstances, the price of graphics cards plummeted, and the mining industry was full of sorrow.

As the world's top graphics card manufacturer, NVIDIA's main business and accounts receivable are facing enormous revenue pressure. According to the early warning of NVIDIA's preliminary financial report in the second quarter of this year, it shows that the difference between revenue and performance expectation in this quarter is more than $654.38 billion. Under such great economic pressure, it is not easy for NVIDIA to ask for a salary increase instead of layoffs, which is particularly commendable.

The general income of NVIDIA business has narrowed.

In NVIDIA's business map, in addition to graphics cards, there are also game departments, server departments, metauniverse, artificial intelligence and other fields. However, according to a statement issued by NVIDIA on Monday, the income of various departments in NVIDIA has shrunk to varying degrees, and the income of the game department has even dropped by more than 40%, reaching 44%. NVIDIA's stock even plunged more than 8% at one time.

Nevertheless, NVIDIA's overall revenue was slightly better than last year, although it was lower than last quarter.

NVIDIA did not disclose the salary increase.

It's good news not to lay off employees. NVIDIA's salary increase against inflation can be described as extremely humane. However, NVIDIA did not further explain the reason for the salary increase, and the extent of the salary increase was unknown. But in any case, this is something to celebrate for employees in NVIDIA.

In the face of adversity, NVIDIA did the opposite, not only not laying off employees, but also raising salaries. Such a company is really enviable and more respectable!

NVIDIA CEO sent a letter to employees saying that there would be no layoffs and a pay increase. According to the leaked e-mail, Huang Renxun, CEO of NVIDIA, assured employees that he would not lay off employees even if the revenue failed to meet expectations, but the company would find all the places where time, processes and materials were wasted and make improvements.

Huang Renxun sent an e-mail to 22,000 employees on Monday, local time in the United States, in which he promised that NVIDIA would not lay off employees soon, although the company issued a preliminary financial report warning for the second quarter, showing that its revenue in this quarter exceeded $65.438 billion.

In an email to employees, Huang Renxun said that the revenue in the second quarter was "significantly lower than expected", which was largely due to the slowdown in the revenue of its game business. But he assured employees that NVIDIA's fundamentals remained strong and demand remained high.

Huang Renxun wrote: "What does this mean for us? Will we lay off employees? No. On the contrary, we will give you a raise and help you take care of your family, because all of you are facing extremely high inflationary pressure. "

It is not clear whether Huang Renxun is referring to the new salary increase measures for employees in NVIDIA, or more generally to the company's salary practices. In the email, he did not rule out the possibility of layoffs in the future. NVIDIA declined to comment.

Huang Renxun said that NVIDIA will take this opportunity to make it a better and more efficient company, and said that the company will continue to adhere to the "current investment level".

He wrote: "We will cooperate extremely, which is the symbol of our culture, and we will find every opportunity to use and reuse. We will find and eliminate all the places that waste time, processes and materials, and make improvements. Seize this opportunity to make NVIDIA faster, leaner and more agile. "

In a statement released on Monday, NVIDIA said that it expected its revenue in the second quarter to be $6.7 billion, far below the previous revenue guidance of $86,543.8 billion. After the news came out, the stock once plunged more than 8%.

NVIDIA attributed the decline in revenue to the poor performance of the company's game department, which saw its revenue drop by 44% year-on-year. Invista also admitted that its data center business, which provides powerful server chips for enterprises, is also slowing down, but it is affected by the slowdown of the global supply chain. NVIDIA said in a document submitted on Monday that the revenue of this business in the second quarter was about 38 1 10,000 US dollars, which was only 1% higher than the previous quarter, but 6 1% higher than that of 202 1 in the same period.

Although NVIDIA promised not to lay off employees soon, technology companies such as Oracle Bone Inscriptions and Robinhood all laid off employees in the downturn of the market and worries about the economic recession. Other companies have tightened their belts in different ways, including canceling the employment of new employees.

At the end of the e-mail, Huang Renxun urged NVIDIA employees to turn their energies to the frontier areas of double investment companies, such as metauniverse and artificial intelligence (AI). He said that these areas will help to achieve future growth. Huang Renxun wrote: "Let us maximize our vigilance and agility, make full use of our horsepower, and meet future challenges while continuing to promote our influential work."