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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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Amazon is reportedly planning to lay off 10,000 employees

Amazon is reportedly planning to lay off approximately 10,000 of its workforce in corporate and technology roles beginning this week, media reported.

According to The New York Times, the cuts will target Amazon’s devices organisation, which includes the voice assistant Alexa, as well as its retail division and human resources.

The total number of layoffs is yet to be determined, but if it is around 10,000, it would represent about 3 per cent of Amazon’s corporate employees and less than 1 per cent of its global workforce of more than 1.5 million, which is primarily composed of hourly workers, said the report.

Amazon will also become the latest technology company to lay off employees, which only recently, it had been fighting to retain.

Earlier this year, the e-commerce giant more than doubled the cash compensation cap for its tech employees, citing “a particularly competitive labour market”, according to the report.

Changing business models and an uncertain economy have resulted in layoffs across the tech industry.

Elon Musk cut Twitter’s headcount in half after purchasing the company earlier this month, and Meta, the parent company of Facebook and Instagram, announced last week that it was laying off 11,000 employees, or roughly 13 per cent of its workforce.

Moreover, many Indian startups have laid off hundreds of employees in the wake of a decline in funding and investment, including Byju’s, Ola and Unacademy.

— IANS

The post Amazon is reportedly planning to lay off 10,000 employees appeared first on BGR India.



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