“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.”
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