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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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Meta to slash 4,000 jobs in third round of job cuts: All you need to know

Meta (formerly Facebook) is reportedly set for another round of mass layoffs on Wednesday that will affect at least 4,000 highly-skilled employees, the media reported.

This week’s layoffs could be in the range of 4,000 jobs, according to a report in Vox, citing sources.

In March, Meta CEO Mark Zuckerberg announced the company would cut 10,000 jobs in the coming months.

In an internal memo seen by The Washington Post, Meta said that “the company will begin notifying employees on its technical teams whose jobs are being cut”.

Meta will also announce newly reorganised teams and management hierarchies, the report mentioned.

“Facebook parent company Meta will announce details about new job cuts on Wednesday, part of a months-long downsizing and restructuring effort that will trim 10,000 employees amid multiple waves of layoffs,” The Washington Post tweeted on Wednesday.

In March, Zuckerberg announced to sack an additional 10,000 employees via several job cut rounds in the coming months.

Zuckerberg said that overall, “we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired”.

The fresh cuts came just four months after he laid off 11,000 employees, or 13 per cent of the company, in November last year.

— IANS

The post Meta to slash 4,000 jobs in third round of job cuts: All you need to know appeared first on Techlusive.



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