Nvidia has announced that it is cutting jobs to enable it to invest in strategic growth areas.
The company said that it expected to reduce its workforce by about 6.5 per cent, or roughly 360 people.
Nvidia has some 5,000 employees worldwide, and has offices in England, Finland, France, China, Russia, Japan and Korea among others.
"Our action today is difficult but necessary considering current business realities," said Jen-Hsun Huang, president and chief executive at Nvidia.
"We are taking fast action to enhance our competitive position and restore our financial performance."
The reduction in workforce is expected to be completed by the end of October. Nvidia said that it would offer redundant employees severance packages, counselling and job placement services.
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