NVIDIA Handles COVID-19 Like A Champ By Giving Workers Raises Instead Of Layoffs
There is plenty of bad news surrounding the Coronavirus pandemic, from the rising death toll to malware authors spreading their nefarious files under the guise of helpful COVID-19 information. In a refreshing change of pace, however, NVIDIA CEO Jensen Huang's recent letter to employees or a ray of much needed light during these trying times.
In his two and half page letter, Huang outlines the situation we are all facing and how NVIDIA is handling the situation. He also directly addresses the topics of layoffs. Simply put, they're not happening at NVIDIA.
"Immediately I received questions about whether we are also planning a layoff. NO—precisely the opposite. 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 stated.
Shelly Cerio, senior vice president of human resources at NVIDIA, posted the letter in its entirety to LinkedIn. In that respect, it's not a leaked memo, but more of an open letter to employees. And yes, if viewing it through a cynical lens, one could conclude it's a self-serving move to drum up good will—internal memos are typically kept private.
Does it really matter, though? Regardless of how you feel about NVIDIA and its GPU business or anything else, the company deserves kudos for taking care of its employees. The COVID-19 outbreak has forced many businesses to layoff employees, making a tough situation even hardware. Job security is more precious than ever, and NVIDIA's workers have it in print.
NVIDIA hasn't been immune to the virus, either. In the letter, Huang reveals that three NVIDIA workers had contracted COVID-19, and fortunately recovered. Unfortunately, the mother of one of the company's employees passed away because of the disease.
The letter also talks about the importance of social distancing and staying at home, stuff most people already know. And as it relates to NVIDIA's ability to not only retain workers, but give them raises, Huang points out that the sudden surge in people working from home is "driving PC sales." NVIDIA also has "excellent positions in thriving markets" and "plenty of reserves for a rainy day."
"It's going to be a tough few weeks. Stay home. We'll beat COVID-19 back together. If you nee us, we're here," Huang concludes.