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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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Two lakh tech employees have lost jobs in 2023 so far: Report

The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees — from Big Tech firms to startups — have been sacked to date globally, as companies like Meta, BT, Vodafone and many others announced further plans to lay off more employees in coming months.

As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year.

In comparison, 1,046 tech companies laid off more than 1.61 lakh employees in 2022.

In January alone this year, close to 1 lakh tech employees lost jobs globally, dominated by companies like Amazon, Microsoft, Google, Salesforce and others.

In total, about 3.6 lakh tech employees have now lost their jobs in 2022 and till May this year.

As more and more Big Tech companies continue to sack employees, they listed various reasons behind the move — over-hiring, uncertain global macroeconomic conditions, strong tailwinds from the Covid-19 pandemic and more.

Meta (formerly Facebook) is reportedly going to start laying off more employees next week in its third round of job cuts.

While the exact number has not been confirmed, it is expected that the company will lay off approximately 6,000 employees in this round.

Amazon India laid off around 400-500 employees from its Cloud division AWS as well as People Experience and Technology Solutions (PXT) or HR and support verticals this month.

Fintech unicorn Zepz is laying off 420 employees, or 26 per cent of its workforce.

The UK telecommunication giant BT Group has announced plans to slash a massive 55,000 jobs by the end of the decade.

Global telecom carrier Vodafone said it plans to reduce 11,000 jobs over the next three years, with an aim to “simplify” both headquarters and local markets.

Meanwhile, Microsoft will not give any raise to salaried employees, including senior leaders, this year as global macroeconomic conditions continue to haunt Big Tech.

— IANS

The post Two lakh tech employees have lost jobs in 2023 so far: Report appeared first on Techlusive.



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