Texas Instruments To Cut 5 Percent Of Workforce
DALLAS (CBSDFW.COM) - A major hit to the Texas Instruments workforce as the Dallas-based company announced plans to cut 1,700 jobs Wednesday.
The layoffs are in line with the company's prior announcement that it planned to reduce costs.
The layoffs will hit 'TI' in the United States, France, Israel and India.
Company spokeswoman Whitney Jodry did not specify the number of layoffs at each site but said the move was "something that's very hard for us as a company, and is something that as we make these transitions we will look to provide the proper outplacement assistance for the employees impacted."
The layoffs represent about 5 percent of the company's worldwide workforce. The layoffs will begin soon. "We will begin employee notifications before the end of the month, and employees will be released over the next few quarters depending on the job and the local labor policies in the countries," said Jordy.
The company has planned to move away from chips in smartphones and tablets and concentrate on other areas, and has repeatedly stated they want to focus on their Open Multimedia Applications Platform for processors and wireless connectivity.
In a release on the PR Newswire Thursday, Texas Instruments said the company would save about $450 Million by the end of 2013 with the changes and layoffs.
