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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Better.com CEO who fired 900 employees on Zoom call takes time off

Vishal Garg, CEO of Better.com got into the news for the wrong reasons last week. The Indian-origin executive at the helm of Better.com, a home loan provider company in the United States. During a Zoom call, Garg announced that the company is firing 900 employees, amounting to 15% of the total workforce.

A new report has surfaced which claims that Garg has decided to take a time off with immediate effect. According to a report by Vice, Chief Financial Officer Kevin Ryan will be taking over for the interim and take the day-to-day decisions of the company. Ryan will be reporting to the board.

Better.com’s board has also engaged an independent third party firm to do a leadership and cultural assessment, according to the report.

This step came a few days after the Indian-origin CEO issued an apology letter for the way he handled the layoffs.

In his letter Garg said, “I want to apologize for the way I handled the layoffs last week.
I failed to show the appropriate amount of respect and appreciation for the individuals who were
affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you. I realize that the way I communicated this news made a difficult situation worse. I am deeply sorry and am committed to learning from this situation and doing more to be the leader that you expect me to be.”

The Softbank-backed company announced in May that it’s going public and received $750 million as part of the deal last week.

The post Better.com CEO who fired 900 employees on Zoom call takes time off appeared first on BGR India.



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