Posted on 01/21/2014 4:17:14 PM PST by Red in Blue PA
SAN FRANCISCO (Reuters) - Texas Instruments Inc plans to cut 1,100 jobs in the United States, Japan and India, or about 3 percent of its global workforce, in a corporate restructuring to save $130 million by the end of 2014.
The U.S. chipmaker, which in 2012 announced it would lay off 1,700 people as it wound down its mobile processor business, said on Tuesday it wanted to reduce expenses in its embedded-processing division and in Japan.
"Technology markets mature from time to time and you have to rebalance where you spend your money," Chief Financial Officer Kevin March said in an interview. "In the case of Japan, the size of the market there has been declining for a number of years."
(Excerpt) Read more at finance.yahoo.com ...
This happens a lot with TI.
Like-wise, chip-makers are the first to recover in an improving economy.
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