In 2024, 168 tech companies have already laid off 42,324 employees, according to data compiled by Layoffs.fyi, an online tracker keeping tabs on job losses in the technology sector. This is an extension of job cuts announced in 2023 by tech giants such as Amazon, Cisco, Facebook parent company Meta, Microsoft, Google, IBM, SAP, and Salesforce, as well as many smaller companies. Big Tech went on a hiring binge during the pandemic when lockdowns sparked a tech buying spree to support remote work and an uptick in e-commerce, and now they face revenue declines
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That is just overflow that companies could not put under silent layoffs, which are happening variably all the time although in the last year and half silent layoffs are maxed out.
Silent layoffs are in principal good for shedding low performers, however in practice due to increasing toxicity and politics NVIDIA is increasingly doing many wrongful dismissal layoffs that almost never anyone challenges (David rarely fights Goliath, until Goliath is fully rotten). What might happen sooner is the Darwinism of what works vs what does not in a form of a competition, where NVIDIA can and is becoming Sun that is going to loose from the healthy competition sooner rather than later - and that is good (not ideal, but that is life). It might be quick or slow (like Intel, which might accelerate at some time too).
Greed is part of the mix of forces, just the difference in a gardener cultivated garden is that it is used as the force for good while in the wild garden pure Darwinism eventually makes big ups and downs.
Is NVIDIA capable of fixing broken culture, time will tell, while so far all I know is showing progressive disease.