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ifile for PC Windows 10 ( Latest Version 2021)
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NVIDIA will have to cut staff – the release of defective products went sideways
NVIDIA Corp. Announces Downsizing to “Continue Investment in Strategic Growth Areas”. According to the announced plan, about 360 people will have to be laid off, which corresponds to 6.5% of the total number of employees in the company.
The cut is expected to end by the end of the third quarter of fiscal year 2021, which ends with NVIDIA on October 26.
According to a company representative, the step taken is a necessity in the current situation.
Obviously, we are talking about the consequences of a whole fan of troubles, which we have talked about more than once. These are the inflated prices for the GeForce GTX 260 and 280, which had to be reduced almost immediately after the release; and a blow from the main competitor, which released a new series of Radeon products and, thereby, greatly strengthened its position; and problems with products for mobile computers, resulting in multi-million dollar losses. By the way, the company will have to answer in court for hiding information about defective GPUs.