American semiconductor (AI) company Nvidia has achieved one unprecedented achievement after another in recent years. The company’s growth has been such that no major global company has been able to achieve it for years. The employees of Nvidia, the biggest partner in this great growth story, have benefited a lot from it, but still they are in great trouble.
Paying a heavy price for immense wealth
A recent report by Bloomberg shows that due to the company’s tremendous growth, many employees of Nvidia have been included in the list of millionaires, but they are also paying a heavy price for it. Nvidia employees are facing stress due to the company’s work culture. Employees of the world’s largest chipmaker company have to work long hours.
Such is Nvidia’s work culture
According to the report, Nvidia’s work culture is quite stressful. Employees’ working hours are getting longer. The workweek is getting longer, i.e. the number of working days in a week is increasing and employees are getting fewer holidays (off days). The management structure is disorganized. It is often seen that Nvidia employees are reaching the office even on holidays and are working instead of resting.
The report quotes several current and former employees of Nvidia about the work culture. A former employee working in the technical support team said that he often had to work seven days a week and the working hours were always long. Another former employee said that he had to attend several stressful meetings every day.
Due to this reason employees do not leave their jobs
However, despite such a tough work culture, very few employees of Nvidia leave their jobs. The reason for this is the lucrative stock options of the company. The chipmaker has continuously rewarded its employees with stock options along with growth, which has made many of its employees millionaires. Former employees of Nvidia call the company’s lucrative stock options ‘golden handcuffs’. These rewards are making them rich, but they do not get time to spend the immense wealth earned through hard work.
Earning so much more than the counterparts of other companies
Regarding the earnings of Nvidia employees, the report says that many of them now own luxury cars like Porsche, Corvette, Lamborghini. This has been explained in the report with an example. The company’s Chief Financial Officer Colette Kress has shares worth about $758.7 million after working for 11 years. Whereas her counterpart from Intel, Dave Zinsner, has shares worth only $3.13 million despite a big pay package.
Also read: Nvidia rides on AI rocket to become number 1 leaving behind Microsoft and Apple
