Cost reduction package
We've learned that Nvidia's top management, including CEO
Jensen Huang have decided to to receive salaries of only $1 (one US dollar) until the
financial situation gets better. This is a part of cost reduction package that
should help Nvidia get through the bad economical times.
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.
Nvidia staff also got a small salary cut but we've
learned that as of this month, the cuts are gone. Nvidia also plans to
stop paying bonuses to top guys, until things gets better. This is how
Nvidia fights with
the economic crisis and this sure is better than letting people go in
bad times.
Still, in spite of the fact that Jensen gets only $1 a year I
would gladly swap salaries with him, as long as he swaps his stock options as
well.