Texas Instruments cuts 1,700 jobs globally
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NEW YORK, Nov 14 AFP
November 15 2012, 12:31AM
US tech firm Texas Instruments says it's cutting 1,700 jobs worldwide as it cuts back on chips for mobile phones.
The Dallas-based firm said it would focus on processors for devices and applications "with long life cycles," instead of the mobile market "where large customers are increasingly developing their own custom chips".
The company has shifting its focus away from mobile phones and tablets to chips for industrial equipment and the automotive sector.
"We have a great opportunity to reshape our OMAP (Open Multimedia Applications Platform) processor and wireless connectivity product lines to concentrate on embedded markets," said TI vice president Greg Delagi on Wednesday.
The company expects annualised savings of about $US450 million ($A435.77 million) by the end of 2013.