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Texas Instruments plans to cut 1,700 jobs

Posted: 16 Nov 2012     Print Version  Bookmark and Share

Keywords:job cuts  wireless  embedded  OMAP 

Chip giant Texas Instruments said it plans to cut 1,700 jobs worldwide as the company seeks to reduce costs and focus investments in its wireless business on embedded markets.

"TI previously outlined intentions to focus its OMAP processors and wireless connectivity solutions on a broader set of embedded applications with long life cycles, instead of its historical focus on the mobile market where large customers are increasingly developing their own custom chips. These changes require fewer resources and less investment," TI stated in its release.

The job cuts would help the company save Rs.2,380.95 crore ($450 million) by the end of 2013. Total charges will be about Rs.1,719.58 crore ($325 million), most of which will be accounted for in the current quarter.

"We have a great opportunity to reshape our OMAP processor and wireless connectivity product lines to concentrate on embedded markets. Momentum is already building with new embedded applications and a broad set of customers, and we are accelerating our efforts in these areas," said Greg Delagi, senior vice president of embedded processing.

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