Wages of NVIDIA top management cut to $1 until things are getting better

Posted on Monday, Oct 05 2009 @ 17:30 CEST by Thomas De Maesschalck
FUD Zilla learned NVIDIA CEO Jen-Hsun Huang and other members of the company's top management have agreed to receive salaries of only $1, the move is part of a cost reduction package to help NVIDIA get through the economic crisis.

There's no need to feel sorry for them though, as they still receive compensation in the form of stock options. NVIDIA also eliminated bonuses until things get better, as the company wants to avoid any job cuts.
Jensen didn't want to start firing people and claimed that they even hired a lot of engineers as the level of innovation in economy downturn has to grow and since Nvidia wants to earn more money in some emerging markets, they simply had to hire more.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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Re: Wages of NVIDIA top management cut to $1 until things are getting better
by Gamblebit on Tuesday, Oct 06 2009 @ 00:36 CEST
Definitely a sign of good management, something AMD doesn't have. Instead of cutting jobs NVIDIA cuts the salary of its executives, while AMD does exactly the opposite. They give their fat cats big bonuses while cutting thousands of jobs!