Leaked email shows Nvidia's CEO reassuring employees that layoffs aren't coming after missing revenue targets, but the company will 'find and eliminate all wasted time, process, and material'
https://www.businessinsider.com/nvidia-ceo-no-layoffs-memo-employees-2022-8
I believe that Jensen wishes what he says "no layoffs", however in reality there are silent layoffs which are ok if done objectively per merits, but that is where the catch is. See other posts here and in other forums where people can have some level of anonymity.
There is significant increase in toxic/gang/nepotistic management.
Self interest driven manipulation practices "all playing by the rules" are on the increase and are primarily damaging business (higher cost, lower quality) and increasing damage to the culture and job satisfaction. Almost everybody can now see numerous cases of "expelling/pushing-out of undesired people" despite proven and verifiable technical competency confirmed by the actual key people (not the "gang committee", all "playing by the rules" where "gang committee" confirms made up false claims of bad performance). Typically 1st wave has more of the real low performers, while any subsequent gets more of "unwanted" people (despite competency and other relevant qualities). This results in a relatively large number of laid off people (many from wrongfully to deeply wrongfully expelled). This shady practice makes companies rotten from the culture out (inside out).
HR has become also increasingly incompetent, supporting political gangs as the easy way, instead of addressing it. This has become open door for age discrimination and other illegal practices (might take short or long time, eventually all come to the light).
Executive management should address and fix this sooner rather than later, as this is a literal "cancer" for the company culture, as NVIDIA is currently on a path of a broken/toxic culture (like Intel).
I am sure that Jensen is not aware of this and if he would probe into this, there would be a ton of material that the gangs would use to cover their b*tt. So, it is hard, but absolutely necessary clean up, if they want the company to thrive as a healthy long term, otherwise the rot will either destroy or at the minimum significantly damage NVIDIA.
I was at NVIDIA during their one and only mass layoffs in 2009. Jensen absolutely hated the experience and vowed he would never have another one. I believe him.
That's what all CEOs say at this moment in time. But wait till recession hits, every company will be laying off. At that time, no executive will even give a straight answer.
Absolutely believe it. The proof is in the pudding. No major layoffs have occurred, some recruiters were laid off but I don’t think any engineers will be laid off. Everyone was given a small cache bonus at the end of last year, and most employees saw a ~5% salary increase this year.
The rebound in stock price further shows the public thinks NVIDIA is a strong company.
😆
Is anybody buying this?