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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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Twitter failed to pay promised bonuses to employees. Its now facing another lawsuit.

Twitter Inc is facing a lawsuit claiming it failed to pay workers millions of dollars in promised bonuses, adding to a pile of court cases filed since Elon Musk acquired the social media company. Mark Schobinger, who was Twitter’s senior director of compensation and left the company last month, filed the proposed class action in San Francisco federal court on Tuesday.

Schobinger says that before and after Musk purchased Twitter last year, the company promised employees that they would receive 50 percent of their target bonuses for 2022. But those payments never materialised, according to the lawsuit, which accuses Twitter of breach of contract.

Twitter, also known as X Corp, no longer has a media relations office. It responded to a request for comment on the lawsuit with a poop emoji.

Schobinger’s lawyer, Shannon Liss-Riordan, represents ex-Twitter workers in several other lawsuits and about 2,000 individual arbitration cases stemming from mass layoffs ordered by Musk last year. Twitter in those cases is accused of failing to pay promised severance and targeting female employees and workers with disabilities for layoffs, among other claims. The company has denied wrongdoing.

Many landlords, vendors, and consultants have also sued Twitter over unpaid bills, some of which Musk inherited when he bought the company.

Twitter is also being sued in Delaware by three former executives including ex-CEO Parag Agrawal who say it reneged on obligations to reimburse more than $1 million in legal fees they incurred responding to requests from government regulators.

The lawsuit comes amid the company’s shift in business strategy to focus more on video, creator, and commerce partnerships. According to a previous report, Twitter is holding early discussions with political and entertainment figures, payments services, and news and media publishers on potential partnerships. The proposal was part of an investor presentation held by Twitter’s new chief executive officer, Linda Yaccarino, for the first time since her appointment. Yaccarino and Musk believe that a pivot in the company’s business strategy will revitalise Twitter beyond digital advertising.

— Written with inputs from Reuters

The post Twitter failed to pay promised bonuses to employees. It’s now facing another lawsuit. appeared first on Techlusive.



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