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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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Disney CEO Bob Iger announces to lay off 7K employees to cut costs

Entertainment giant Disney is laying off 7,000 employees to cut costs, its CEO Bob Iger has announced. During the company’s earnings call for its December quarter, he said the move is “necessary to address the challenges we’re facing today”.

Disney to lay off 7,000 employees

“I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide and I am mindful of the personal impact of these changes,” said Iger.

On the content side, Disney expects to deliver approximately $3 billion in savings over the next few years, excluding sports.

He said that under the strategic reorganisation, there will be three core business segments: Disney Entertainment, ESPN and Disney Parks, Experiences and Products.

“This reorganisation will result in a more cost-effective, coordinated and streamlined approach to our operations and we are committed to running our businesses more efficiently, especially in a challenging economic environment. In that regard, we are targeting $5.5 billion of cost savings across the company,” said the CEO.

The company’s streaming business lost around $1.5 billion last quarter.

Its current forecasts indicate Disney+ will hit profitability by the end of fiscal 2024.

Disney Plus added just 200,000 subscribers in the US and Canada for a total of 46.6 million, while its international offering (excluding HotStar) saw the addition of 1.2 million members.

Disney’s direct-to-consumer division, which includes its streaming services, saw a 13 percent increase in revenue to $5.3 billion, with an operating loss of nearly $1.1 billion.

–IANS

The post Disney CEO Bob Iger announces to lay off 7K employees to cut costs appeared first on Techlusive.



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