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.
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Fuad Abazovic
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