Important Update Regarding Layoffs

Jensens sent the following email to NVIDIA employees earlier today. Greetings fellow NVIDIANS, I am sure you have all heard by now of the difficult decision to let go of some of our most valued employees. It is with a heavy heart that I must inform you that our company is laying off 15% of our workforce due to unforeseen circumstances. I take full responsibility for this difficult decision, as it was my own judgment that led to the unfortunate events which caused this. It all began when I decided to give our team a challenge and get everyone out of their rut. I thought it would be fun to create a game I like to call 'Robot Roulette'. The game was simple: whoever lost at the game would have to suffer a consequence of my choosing. What I did not foresee was the consequence I had chosen; sadly, those who lost at the game would be laid off from the company. Needless to say, this was the wrong decision and I regret it deeply. I understand that this news may cause you some distress. I want to assure you that I am taking full accountability for my actions, and I will make sure that those who have been laid off are taken care of. There are still many things that remain to be done, but rest assured that I am working hard to make sure that the transition will be as smooth as possible. I want to thank each and every one of you for your dedication to our company. We have gone through difficult times, but I know that if we all stick together we will come out of this stronger than ever. -Jensens 'Handsome' Huang, CEO of NVIDIA.