A few days after HP announced massive layoffs, and even today similar news from Creative Labs who will be dismissing the majority of its employees across Europe as of the end of this month there's another company in rough weather.

NVIDIA issued a press-released with unfortunately bad news for a change. Earlier this afternoon we where informed that NVIDIA will have to layoff roughly 6.5 % of their global workforce. As you guys know, NVIDIA has been on a roller-coaster ride for the past eight years or so. They grew rapidly and very extreme. Their workforce in that time expanded to (to date) over 5000 employees. The job cuts are going to be across the board, not targeted at any specific group. Whispers also say that this is because the chip maker is going to badly miss numbers this quarter, it makes sense it is taking preemptive moves to get costs under control.

Lately NVIDIA has been a cascading set of problems related to bad mobile GPU parts and declining sales as AMD ATI has been steadily on a roll the last quarter of 2008 with their Radeon HD 4600/4800 products.

We receive a quote from Jen-Shun Huang, CEO of NVIDIA in the situation at hand: