Nvidia CEO promises no layoffs due to revenue misses
Previously, Intel and AMD have released their latest quarterly financial reports, and the situation is quite different. The former’s revenue has fallen sharply, while the latter is still hitting new quarterly highs. Although the industry will encounter greater resistance in the near future, which will have a negative impact on revenue, Intel’s financial report is still beyond the expectations of many people. But what is more unexpected is that Nvidia, after several years of great development, Nvidia officially pre-disclosed results for the second quarter of fiscal 2023 a month earlier, with a preliminary estimate of $6.7 billion, far lower than the expected $8.1 billion.
According to Business Insider, Nvidia founder and CEO Jensen Huang sent an email to employees internally. It talked about its views on the current operating environment, reiterated that NVIDIA’s fundamentals are very good, and it is full of confidence in the demand for its products, the market demand is still high, and the artificial intelligence market is a strategic focus in the future, which is a once-in-a-lifetime growth opportunity.
Jensen Huang assured us that Nvidia has no layoff plans and will not choose to do so because its revenue has not met expectations. Instead, Nvidia will choose to raise wages to allow employees to better care for their families, as everyone faces severe inflation. Nvidia’s strategy at this stage is to focus on simplifying the use of existing processes and resources, rather than simply cutting back, which can make Nvidia faster, leaner, and more agile to meet future challenges.Several months ago, reports surfaced that Nvidia had slowed the pace of hiring while raising the bar in interviews. Later, through tracking and statistics of job recruitment by Intel, AMD, and Nvidia, some media found that among the three industry giants, Nvidia provided the largest reduction in the number of open job postings. It is believed that NVIDIA will choose to retain existing talents more, stabilize people’s hearts internally, and ensure the integrity of the development team.
