The technology industry is lagging behind as it struggles to cope with rising inflation and a deteriorating global economic environment.
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Nvidia
(Ticker:
NVDA
) The company confirmed on Sunday that the pace of recruitment is slowing down.
The chip maker has joined several other large technology companies that have decided in recent weeks to be more prudent with their operating budgets.
Friday, The New Indian Express The management of the semiconductor company has reportedly told its hiring managers to reduce the hiring of new hires.
“We have been very successful in recruiting this year,” he said
Nvidia
The spokesman said in a statement Baron’s When asked to comment on the report. “We are slowing down for the time being to consolidate these new employees and focus our budgets on caring for existing employees as inflation continues.”
The technology industry is lagging behind as it struggles to cope with rising inflation and a deteriorating global economic environment.
In late April, Robinhood (HOOD) announced that it was cutting 9% of its workforce to improve performance. Earlier this month,
Twitter
(TWTR) has revealed that it has fired two senior executives, cut hires for most roles and plans to cut cloud computing costs. Finally,
Uber Technologies
(UBER) emailed its staff this month to reduce marketing and other costs.
Enter Tae Kim at [email protected]
