ObamaEconomy – Texas Instruments to Axe 1,700 Jobs, Take $325M Charge due Policies Not Racism

NEW YORK (Reuters) – Texas Instruments said on Wednesday that it would eliminate 1,700 jobs worldwide to cut costs in its wireless chip business as it is moving away from making application chips for smartphones.

The chipmaker said it expects to take charges of about $325 million related to the job cuts, most of which will be accounted for in the current quarter. It expects annualized savings of about $450 million by the end of 2013 from the action.

Texas Instruments to cut 1,700 jobs in cost reduction effort

 

Wayne Dupree

Wayne Dupree is owner and founder of WayneDupree.com. He was named to the 2017 Newsmax’s 50 Most Influential African-American Republicans. He served in the USAF between 1987-1995. He saw time in Operation Desert Storm/Shield and is the father of three. He is the host of the Wayne Dupree Show.

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