Friday, April 25, 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

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