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With the pandemic taking a toll on recruitment demand, LinkedIn (NASDAQ:MSFT) is cutting 960 workers across the global sales and talent acquisition organizations.
Departing workers will receive a minimum of 10 weeks of severance pay and 12 months of continuing health insurance for U.S. workers.
LinkedIn says this is the only planned round of job cuts.
In April, LinkedIn promised no COVID-related layoffs until at least June.
Microsoft reports earnings after the bell Wednesday. Business Quant wrote on Seeking Alpha today that its expects the “LinkedIn division to post a sequential revenue decline of around 5%, coming in at $1.95 billion in Q4 FY20. The rationale is that the coronavirus outbreak has encouraged most businesses to rethink their expenses and re-strategize to better adapt to the new normal.”
Check out current earnings estimates for MSFT.
Microsoft shares are up 1.2% pre-market to $214.10.
Related: Last week, Microsoft confirmed trimming its global workforce, with reports suggesting that just under 1,000 workers were cut.
Amazon (NASDAQ:AMZN) Prime Day 2020 will be postponed by three months, according to an email to third-party sellers that suggests this year’s big deals will launch in October.
“This year we’ll be holding Prime Day later than usual, while ensuring the safety of our employees and supporting our customers and selling partners,” the company declared, adding that it would share “more details soon.”
While Prime Day in the U.S. is being put on hold, Amazon said Prime Day will take place in India next month on August 6 and 7.
“Amazon may end up buying the weakest of the Indian telcos,” writes High Watermark Investments in a SA article, Where Could Amazon Invest $5.5 Billion In India?
Zoom (NASDAQ:ZM) will expand its presence in India by opening a new technology center in Bangalore.
The expansion will supplement Zoom’s existing R&D centers and support Zoom’s engineering leadship, which is based at its San Jose, California headquarters.
Currently, Zoom has one office in Mumbai and two data centers in Mumbai and Hyderabad.
ZM has seen 6700% growth in free user sign ups in India, from Jan. to April 2020.
“We plan to hire key employees for the technology center over the next few years, pulling from India’s highly-educated engineering talent pool. This facility will play a critical role in Zoom’s continued growth.” says CEO Eric S. Yuan.
Netflix (NFLX -0.8%) is testing a lower-cost price tier in India in a bid for share, AndroidPure reports.
Some new and existing subscribers there are seeing a “Mobile+” plan that delivers HD video to mobile, tablet and computer screens, but not televisions, for 349 rupees/month (about $4.70).
That’s a discount to the basic plan at 499 rupees/month (but which only offers standard definition), and is an improvement to a previously launched Mobile plan at 199 rupees (but which only offers standard definition to phone/tablet, while leaving out computers/TV).
“We launched the Mobile Plan in India to make it easier for anyone with a smartphone to enjoy Netflix. We want to see if members like the added choice this offer brings,” the company said. “We’ll only roll it out long-term if they do.”
Six months after launching Ryzen chips for laptops, AMD (AMD -0.2%) announces the Ryzen 4000 desktop processors based on the 7nm Zen 2 architecture with built-in Radeon graphics.
AMD says the new G-series chips offer up to 2.5x multi-threaded performance compared to the previous generation and up to 202% better graphics performance than the Intel Core i7-9700.
The Pro chips are said to offer 31% faster performance and 43% more performance per watt than Intel’s Core i7-9700 vPro.
The chips are currently for prebuilt systems from OEMs, meaning consumers wanting to DIY a rig will still need to wait.
Ryzen 4000 G-Series desktop processors will be available from OEM partners including Lenovo and Dell starting in Q3. The PRO processors will launch later this fall.
AMD is expected to debut the next-gen Zen 3 architecture later this year.
