NVIDIA is taking care of its staff with pay increases instead of lay offs during some hard financial times, not just for the company, but for the US economy and global economies.
In a new email picked up by Business Insider, NVIDIA is sticking to its guns with NVIDIA founder and CEO Jensen Huang keeping the can of whoop ass closed when it comes to hurting NVIDIA staffers during these hard times. Jensen explained in the email: "So what does this [THE REVENUE DROP] mean for us? Do we have a layoff? No. Instead, we have given raises to take care of your families as all of you are facing sky-high inflation".
He continued: "We will exercise extreme collaboration, a hallmark of our culture, finding every opportunity to leverage and reuse. We will find and eliminate all wasted time, process, and material. Take this opportunity to make NVIDIA even faster, leaner, and agile. So let's turn our alertness and agility to maximum, engines full-throttle, and fly through the challenges ahead while continuing to do our impactful work".
- Read more: NVIDIA GeForce GPU sales drop 44% pulling Q2 2022 revenue down with it
- Read more: Graphics card prices have dropped a whopping 57% since January, yay!
- Read more: NVIDIA is lowering the cost of GeForce GPUs by up to 12%, here's why
As for the Q2 2022 earnings, NVIDIA revenues slipped big time with GeForce GPU sales down 44% quarter-over-quarter and 33% year-over-year. Jensen explained: "Our gaming product sell-through projections declined significantly as the quarter progressed, As we expect the macroeconomic conditions affecting sell-through to continue, we took actions with our Gaming partners to adjust channel prices and inventory".
Jensen continued, adding: "NVIDIA has excellent products and position driving large and growing markets. As we navigate these challenges, we remain focused on the once-in-a-generation opportunity to reinvent computing for the era of AI".