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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 to slash 4,000 jobs in second round of layoffs

Entertainment giant Disney kicked off its second round of layoffs on Monday that will affect 4,000 employees.

According to a CNBC report, a third round is expected to start before the beginning of the summer.

Disney plans to reduce its workforce by 7,000 jobs as part of a larger reorganisation that will see the company cut $5.5 billion in costs.

“The senior leadership teams have been working diligently to define our future organisation, and our biggest priority has been getting this right, rather than getting it done fast,” the company said in a note to employees.

The second round of cuts will affect Disney Entertainment and ESPN, as well as Disney Parks, Experiences and Products.

The jobs affected will span across the country from Burbank, California, to New York and Connecticut, CNBC reported.

“As we advance as a core segment of Disney, with operational control and financial responsibility, we must further identify ways to be efficient and nimble,” ESPN CEO Jimmy Pitaro said in a note to employees.

“This is a time of transition for Disney, and these changes affect everyone, whether or not your role is impacted. We are committed to supporting you through this period and encourage you to reach out to your leader or HR partner with any questions or for guidance, as needed,” said the company.

In February, the entertainment giant announced to lay off 7,000 employees to cut costs.

“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 its CEO Bob Iger.

— IANS

The post Disney to slash 4,000 jobs in second round of layoffs appeared first on Techlusive.



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