Intel to invest over $120 m in R&D centre

Intel to invest over $120 m in R&D centre

Intel will invest over $120 million in consolidating its existing research and development infrastructure in Bangalore, the company said on Wednesday.
The new building SRR3 spans 18 acres of land comprising two buildings and is expected to be completed by early to mid-2015.

Intel India President Kumud Srinivasan said that Intel already has its offices in owned and leased offices in Bangalore and apart from Sarjapur, where the new building is to come up, the company owns an office in Old Airport Road that has approximately 900 employees.

“The total strength of Intel R&D is 4,500 people and we are planning to consolidate all of them into owned spaces from leased locations,” Srinivasan said.

“Our new capacity in Bangalore will give us the right resources to make a meaningful difference as the company moves into exciting areas like the Internet of Things. This move reinforces Intel's commitment to invest and grow in India.”

The company said that it had already invested $2 billion at its R&D centre in India, the largest non-manufacturing site outside the United States.

Regarding Intel's decision to cut 5 per cent jobs globally, Srinivasan said that the attrition rate at Intel is close to 4 per cent and this means that this would be a little more than that.“This is actually Intel's exercise to redeploy people from low priority areas to higher priority ones,” she explained adding that, “the impact in India would be the same as elsewhere and be nothing exceptional.”

 She said that there won't be any fresh hiring and added, “no fresh hiring, certainly not in 2014,  not in the foreseeable future....."
   
"Whenever we do get there and we start hiring again, I suspect that it would follow the same profile that we have today. It is not going to be any specific market segment- it is essentially going to be a broad rush across different market segment which is what we have now," she added.

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