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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RE: Average employee worth
11/15/2012 4:04:29 PM
You can't just divide 450M by 1700 and expect to get a usable cost per employee. They're probably saving quite a bit in other overhead costs too. Salary, taxes, pensions, healthcare, IT support, HR oversight, training, etc. With cuts's that big, they're probably closing entire buildings so they're saving costs there too. By the time you add it all up, direct salary is far less than 1/2 the cost of an employee.
"Well, we didn't have anyone in line that got shot waiting for our system." -- Nintendo of America Vice President Perrin Kaplan
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