Chip giant NVIDIA confirmed on Sunday that it was slowing recruitment. NVIDIA has joined several other large technology companies, which have announced a slowdown in recruitment in recent weeks and become more cautious in operating budgets to cope with the continued high inflation environment.
Last Friday, Indian media first reported that NVIDIA's management had asked the recruitment manager to reduce the recruitment of new employees.
"We have been very successful in recruiting this year. We are currently slowing down the pace of integrating these new employees and focusing our budget on taking care of existing employees while inflation continues," an NVIDIA spokesman said on Sunday
The technology industry has been cutting spending as it struggled to cope with rising inflation and a deteriorating global economic environment.
At the end of April, Robin Hood announced 9% layoffs to improve operational efficiency. Earlier this month, twitter revealed that the company had fired two executives, suspended recruitment for most positions and planned to cut cloud computing spending. Uber also emailed employees this month to cut marketing and other costs.
Earlier this month, Facebook's parent company meta announced a sharp slowdown in recruitment. Last week, coinbase, the largest cryptocurrency exchange in the United States, also announced a slowdown in recruitment in response to the turmoil in the cryptocurrency market.
