“Texas Instruments Inc. said it will cut about 1,700 jobs, or 4.8% of its global workforce, in a cost-reduction move as it shifts away from the mobile market,” Kristin Jones reports for The Wall Street Journal.
“The Dallas company said it expects restructuring charges of $325 million, mostly in the fourth quarter, in connection with the job cuts. It expects annual savings of roughly $450 million by the end of 2013,” Jones reports. “TI recently had around 35,000 employees, according to its website.”
Jones reports, “The company has said the smartphone and tablet markets, among the fastest-growing parts of the technology sector, have become less attractive over the past year because big companies like Apple Inc. and Samsung Electronics Co. Ltd. have increasingly been making their own sales.”
Read more in the full article here.
It’s starting now America and just watch the layoffs begin. Unemployment numbers will hit double digits next year. Who will America blame for this? Just saying!
Starting? You’re nuts. Huge recovery coming now that the GOP has run out of time obstructing. You lost the election, now get over it.
Let’s just wait a few months till Obamacare kicks in and you are likely to lose your job, if you even have one! Are you living on welfare now, if not, you will be……
Not me dude. I work for a solid company that is growing and our CEO supported Obama care.
I guess if you work for some right wing nut who believes in strong arming policy by dumping employees your job may be on the line. Prob not the best place to work to begin with.
be sure to post your followup using your Obama phone haha
I don’t use an Obama Phone! Mine is paid for by me…..But then again, You and Me and others around our Great Nation are paying for them, did you know that?
Actually, if we started a necessary austerity program tomorrow, it will be our great grandchildren paying for the excesses of the past 50 years.
I care not your political agenda, continuing to spend as we have for the past 50+ years puts us in line to become the next Greece.
Glad you work for a solid company, but what does working for a railroad have to do with Obama’s war on fossil fuels? Normally, except Obama, who couldn’t run a successful lemonade stand, hates coal and oil. So a friend of mine barely survived layoffs at the railroad because there is no cargo to haul, namely coal. No cargo, no trains, no jobs… tried to put it in as simplistic terms that even Obama might comprehend… but I doubt it.
But those America based employees of TI should have no problem finding a new job at the same benefit package because we tried it the Obama way, and it’s working… hahahahahaha…
Oh and don’t worry, well be sure to point out ALL Obama’s utter failures in 2013, 2014, and 2015… What about 2016? Oh, Obama will probably be impeached by then…
“couldn’t run a successful lemonade stand” Haha, but he could run Presidential campaign that smoked your candidate. I LOVE how much you right wingers are suffering right now. I have an Idea for you…Secede please, no one will miss you.
Shows how much you wing nuts do your own homework. Obama is from illinois,(vast coal state) some of his biggest contributors/supports are energy companies. Ever here os Excelon?
He is right however, we need to burn less coal, it is very inefficient and one of our biggest polluters.
What you wing nuts really need to research is Germany. Last year they shut down their nuclear plants (Smart move!) and invested in solar and wing. Now power is cheaper, more abundant and they are exporting more. As a result coal plants in other countries are reducing production, because they cannot compete with CHEAP, RENEWABLE power.
You knuckle draggers, you regressive social and environmental programs lost. Now ay attention, you may learn something…
I for one think Romneycare is great. Maybe the best idea Mitt Romney has ever had. Republicans are just butt sore that poured hundreds of millions in a failed Karl Rove propaganda machine. Maybe these CEOs could have used those political donations to actually take care of their employees who put in the work to paid the CEOs bank account. Just a thought….
how does it go again? First 2010…Then 2012?
LOL
Sad news to report Mr. Artist, “the new boss is same as the old boss”, meaning, the government of November 5th is basically the same as November 6th, with only slight number variances but HARDLY a mandate! More like a do over. We now have President Mulligan. Maybe now Gitmo will be closed??? It’s only been over three years since Mulligan deemed it so!
I thought the “huge recovery” was supposed to start after the last election in 2008, so what happened to that? Excuses, more excuses and absolutely no leadership whatsoever, that’s all I’ve seen for the last 4 years. Sadly there’s absolutely no reason to believe that will change any in the next 4 years either.
Because the GOP set its goal from the start to obstruct everything the President did to ensure the he only had one term. I guess you missed that one. Obviously the voting public didn’t
We didn’t “lose” jack shit. Status quo election (if you don’t count the 30th governorship the GOP just gained)
The GOP won the U.S. House. Again. That’s no less valid than the infant terrible in the oval office’s election.
2012, you lost pussy
I only saw mention of vertical integration in the market as being the cause.
Coincidentally, 4.8% was the exact percentage of employees’ cars in the TI parking lot with Obama 2012 stickers.
LMAO
Cheering on an employer firing people over political beliefs. How fascist of you.
This is the true face of the GOP, welcome to the reason your guy lost. Asshole..
This guy should just change his “name” to Microsoft….” We are delivering something great First in 2012, Then 2014…no no no…Wait….thats First 2014 then 2016 …. no no no no nope *POOF* vaporware….
Today’s republican party is the Vapor Party. Representing 1 demographic that is slowly moving toward obsolescence. Evolve or die. The choice is yours.
What is this… More politics still on this forum… The GOP and Romney lost…. End of story… But here is how a Democracy is SUPPOSED to work…. We vote on an issue…. A majority decides the issue.. Then EVERYONE tries to get behind the decision and make it work…but that’s not how it works.. In America, the one who are outvoted feel they must do their best to ensure that the majorities decision is thwarted at every turn… That is not democracy …. It is a perfect recipe to ensure that nothing gets done… So don’t blame the GOP or the DEMs for the country’s problems… Blame the American people for allowing this idiocy to continue because of their distrust of one another…. Majority rules is a joke in America.
Its called checks and balances. The majority voted for what they think will be free stuff. Mostly because they are broke and want to depend on govt. doesnt mean it’s smart. The country is broke. The masses and libtards will find that out. Prepare for shared misery Obama never mentions spending cuts.
On another note typing on an iPhone sucks face it. 50000 typos per word.
So in your bigoted world view, Blacks, Asian, Latino’s and Women all want free stuff ??
this is texas instruments we are talking about, this could easily be a product of poor profits
In other news, Texas Instruments is still around…
Take your friggin political opinions somewhere else. You have four more years to piss and moan before the next election.
http://www.dailyjobcuts.com/
Nuf sed…..
This thread has been hijacked and almost turned into a political shouting match. What gives?
TI used to be considered to be one of the most stable high-tech companies to work for due to its well-established expertise and reputation. It’s always sad to hear ppl affected by the RIF especially during the holiday.
You must be new around here …
MDN is bent to the right politically and at times likes to post stories that pander to that view, as is their right – it is their website, however this leads to a war of vitriolic comments between red and blue.
Besides, “We” always need something or someone to hate on; Microsoft, Google, Samsung … the analyst who seemingly cast Apple in a bad light, but didn’t, but FSCK him anyway!
It’s the wild west here, shoot and kill first; don’t ask any questions later.
I don’t think this TI story is a politically charged post though.
Obama won, USA lost.
The sorrow of empire is being around as the American empire recedes into the mists of history like every empire before it. Our problems are systemic. And, they go back farther than some kerfuffle over Obama, Romney, et. al. Empires establish themselves, grow, dominate and then wither away as the byproducts of success poison them like waste products in a single cell organism.
The universe is unfolding exactly on schedule.