Prominent technology companies such as AMD, Intel, and Nvidia are slowing new hires as a cost-cutting measure to help them navigate the ongoing recession. According to Planet3DNow!, he searched all three of his websites for open vacancies and found that all 3 have fewer open vacancies. This shows that they are trying not to increase operating costs in such a cloudy economic environment.
So Nvidia has taken another swing, with #jobs available on its website down 18% from five days ago. #AMD and #Intel are also down. Changes after July 30, 2022 (after May). AMD – 4% (+- 0%) Intel – 9% (- 58%) Nvidia – 18% (- 68%) pic.twitter.com/QQH3YIP403August 4, 2022
AMD’s job cuts likely reflect the company’s impressive second quarter results, which saw a 70% increase in revenue, securing a profit of about $447 million. This is a company that is clearly on an upward trajectory due to its execution (since Lisa Su took the helm). And with such strong results, it’s no surprise that the company is focused on acquiring additional talent that will help it perform better in the years to come.
The company’s 4% reduction in open hiring positions last week may only mean that AMD has filled some of the previously available positions. , beating out both Intel and Nvidia to take the top spot in open positions.
Of all three, Nvidia’s slowdown is the most noticeable. The company’s available positions have fallen 68% since his May 7th, with 18% of that decline occurring in the last week alone. This has reduced the company’s open positions to just 1,114 at the time of writing, from a high of 3,555 just four months ago. This is less than two thirds of the best.
The company had already acknowledged a slowdown in hiring in May. But Nvidia is a multi-billion dollar company and didn’t want investors to put it in a vulnerable position. The company claimed it simply gave it more time to “better recruit thousands of recent hires.”
These adopters may take a little longer than expected to adjust.
When it comes to Intel, the company’s hiring slowdown is even more pronounced. Additionally, the company recently posted an eye-popping $500 million loss in the second quarter, almost mirroring AMD’s earnings. This prompted CEO Pat Gelsinger to acknowledge the company’s execution flaws, promising future improvements.
Perhaps related, but the decline in Intel’s open positions is also significant. The company has almost doubled AMD’s job openings in May (6,092 vs. 3,439), down to 168 fewer (2,533 vs. 2,701) at the time of writing. But Intel’s slowdown in hiring comes with a few caveats. The company seems to be focusing more on acquisitions these days, and may actually be directing capital towards them.
Also, let’s not forget that the company has invested billions in a series of new manufacturing facilities in the US and Europe. It remains to be seen how or if Intel’s reduction in open positions will affect factory expansion. One thing is certain, though. Semiconductor manufacturers have been fighting for qualified workers for some time.
All three companies are almost certainly shifting their hiring strategies to retaining the talent they already have rather than onboarding new employees. cause, but tensions have risen and are rising elsewhere. Home to one of the world’s largest semiconductor foundries thanks to TSMC, Taiwan is seemingly in a precarious position with China. Chinese missiles and a number of military aircraft (22) violated Taiwan’s airspace after US House Speaker Nancy Pelosi’s visit, but have done little to ease global fears of the conflict. Uncertainty will cause economic turmoil and businesses will need to ensure they have sufficient capital to weather further economic surges.
