Texas Instruments Eliminates 1,700 Jobs
November 15, 2012 1:09 PM
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The company expects to save about $450 million by the end of 2013 with the 1,700 eliminated jobs
Texas Instruments is in the midst of some restructuring, as it cuts over 1,000 jobs and switches its focus from tablet/smartphone chips to those for cars and appliances.
Texas Instruments cut 1,700 jobs, which is equal to 5 percent of its global workforce. The company currently has 35,000 employees around the world, and expects to save about $450 million by the end of 2013 with the 1,700 eliminated jobs.
In addition to the job cuts, Texas Instruments is shifting its chip-making efforts from tablets and smartphones to cars and home appliances due to the competitive mobile device market.
Large device makers like Apple and Samsung have been making their own chips, and currently only
Amazon's Kindle Fire tablets
use Texas Instruments' processor unit called OMAP.
While Texas Instruments said it will continue selling OMAP processors to Amazon for its Kindle Fire tablets, the company wants to focus more on cars and appliances.
However, there's been talk that
Amazon is looking to purchase Texas Instruments' mobile chip division
for itself. This could allow Amazon to take control over the design and performance of the chips that run its products.
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Sign of the times
11/15/2012 3:42:22 PM
Much more of this to come now that the elections are over.
RE: Sign of the times
11/16/2012 2:25:07 AM
Well, to be fair, it's only happening because we elected the ANTI-BUSINESS guy (hell, anti america, he wants us broke so we end up UN ruled, look at the gun treaty coming March18-23 I think thats the dates).
With the other guy elected, we'd be swimming in oil/coal shortly and put people back to work not only there, but also across the board as every business out there would be of the firm belief the govt was no longer out to get them. Obama will continue the war on coal, stop drilling on any PUBLIC lands and continue this ethanol crap for his friends.
Not to mention the EPA would slowly be reduced to nothing if not just killed outright by Romney. Boom, corn problem fixed (feed problem) and suddenly we all have to spend less on groceries. Drilling like crazy and using our coal lowers gas etc prices and again we all have more money.
DAMN the environment/animals (if anyone can actually prove we have anything to do with it at all climate wise), we need jobs and cheap gas/cheap food. Anything less=more layoffs just as you said. The list of companies set to do this in Jan/Feb is amazing (5000 companies!). Say hello to 20% unemployment with the real # being around 25-30, in 3-4 months. I don't give a rats A$$ about some animal about to go extinct either. We are about to have our economy go extinct.
RE: Sign of the times
11/16/2012 2:14:33 PM
Like Romney with his outsourcing of jobs and offshore bank accounts to avoid taxes and Ryan with his "Atlas Shrugged" economic mentality. Those qualities would be great for our economy. Pffft!
"So if you want to save the planet, feel free to drive your Hummer. Just avoid the drive thru line at McDonalds." -- Michael Asher
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