Saturday, November 1, 2014   

Texas Instruments sheds 1,100 jobs worldwide
(01-22 08:34)

Texas Instruments said it is eliminating 1,100 jobs worldwide as the chipmaker moves away from slow-growing segments.
The news came as the company reported quarterly and annual profits in line with expectations, but offered a disappointing outlook for early 2014.
Chairman and chief executive Rich Templeton said TI would be taking restructuring charges for cost-saving actions in embedded processing – which include chips in connected everyday devices – and in Japan.
“The company is not exiting any markets or discontinuing any existing products but will reduce investments in markets that do not offer sustainable growth and returns,'' he said.
“The savings will reflect the elimination of about 1,100 jobs worldwide.''
The company's fourth quarter profit soared 94 percent from a year ago to US$511 million. Full-year profit was US$2.2 billion, up 23 percent.—AFP

   
Other Business breaking news:
German retail sales post biggest drop for 7 years (10-31 17:59)
Hang Seng finishes higher (10-31 17:22)
IAG airlines group logs improving Q3 profits (10-31 17:21)
European stocks rally at open (10-31 16:47)
Panasonic says half-year profit dives (10-31 15:53)
Nikkei soars to seven-year high (10-31 15:44)
Japan Airlines H1 net profit slips (10-31 15:43)
Sony says half-year loss balloons six-fold (10-31 15:42)
RBS sets aside 400m pounds for forex probes (10-31 15:41)
BoJ chief says at 'critical moment' for exiting deflation (10-31 15:40)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.