This job cut will affect Indian employees as well.
Thursday, January 23, 2014: In a move that is termed as corporate restructuring, Texas Instruments has announced its plans to cut 1,100 jobs in countries including India, Japan and United States. This is about 3 per cent of company’s global workforce and will reportedly save around $ 130 million by the end of 2014.
The US chipmaker had announced a lay off of 1700 people in 2012 as well, when it was facing a low in the mobile processor business. The company said that it now wants to reduce its expenditure in the embedded-processing division. According to Reuters, Kevin March, chief financial officer, TI, said, “Technology markets mature from time to time and you have to rebalance where you spend your money. In the case of Japan, the size of the market there has been declining for a number of years.”
March emphasised that a majority of TI’s customers have ‘extremely lean’ inventories as of now mainly because of the fact that TI in recent years has increased its own store of available components so that it can fill new orders quickly. These job cuts are mostly centred on products that have seen slow growth, told the official.
It is worth mentioning here that Intel has also announced its plans to slash its global workforce of 107,000 by about 5 per cent this year, because the company is struggling with reduced sales of personal-computer.
