Texas Instruments have announced that they are axing 1,700 jobs worldwide in a strategy of reducing costs and to focus investments in their wireless business on embedded markets.
They previously said they were going to focus OMAP processors and wireless connectivity solutions on a wider set of embedded applications with long life cycles. The changes mean they need fewer resources and less investment.
After the job reductions, the company expects to save $450 million US by the end of 2013.
Greg Delagi, senior VP of embedded processing said “We have a great opportunity to reshape our OMAP processor and wireless connectivity product lines to concentrate on embedded markets. Momentum is already building with new embedded applications and a broad set of customers, and we are accelerating our efforts in these areas. We will work closely with all employees affected by these changes to provide a range of assistance related to compensation, benefits and job search.”
Kitguru says: A restructuring for the future.