NVIDIA CEO says no to layoffs - promises accelerated raises

With large swathes of the global economy effectively in some form of lockdown, a lot of families and businesses are feeling the crunch. Layoffs are happening everywhere but graphics chip designer NVIDIA seems to be a safe place. Last week, NVIDIA CEO Jen-Hsun Huang send out a letter to announce that the company is not planning any layoffs. In fact, NVIDIA is going to give raises to employees sooner than planned:

"Immediately I received questions about whether we are also planning a layoff. NO — precisely the opposite," he said in the letter, which was published to LinkedIn by a company human resources executive. "We are accelerating your raise to put some extra money in your hands. We can put tens of millions of more dollars in the hands of our families in the coming months."

Huang said NVIDIA is strong positioned as the company's products address urgent needs:

"The products we offer are addressing urgent needs. Stay-at-home is driving PC sales. Remote design and collaboration technologies are needed," he said. "Gaming is replacing other entertainment and hitting record levels. The shift from physical to digital will further accelerate cloud computing use."

Interest in robotics for retail, warehouse logistics and cleaning "is surging," Huang added, while the need for diagnostic instruments and scientific computing are in "high demand" among healthcare providers "as the industry looks for ways to mitigate the impact of this virus."

Via: TPU