If you hear the name Texas Instruments what do you think about. If a calculator is the first thing that comes to mind then you are missing out on a large part of what the company does. That is why before we talk about the job cuts that the company is making we are going to take a look at how the company you may think you know chooses to describe itself, ” For more than 80 years, Texas Instruments has used increasingly complex signal-processing technology – with advances ranging from the incremental to the revolutionary – to literally and repeatedly change the world. Every day, our semiconductor innovations help 90,000 customers unlock possibilities for a smarter, safer, greener, healthier and more enjoyable world. Our focus on building a better future is ingrained in everything we do, from responsible semiconductor manufacturing, to employee care and active involvement with the communities we live in.”
Sadly the company is getting ready to cut back on about 1,700 workers in a move that is designed to help the company become more profitable. The company has not said much about where exactly the jobs will be cut from but if the company makes the cuts to workers in the USA then they are likely to run afoul of the mass layoff action.
For those of you who are not familiar with the idea of a mass layoff action here is a look at how the company chooses to describe itself, “The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days.” The only good news, if the company does manage to trigger a mass layoff action, is that they will have to give the workers several weeks of notice about the job cuts to come.
Interestingly instead of making comment on the large scale job cuts that the company is making, but in their most recent release chose to highlight a speaking engagement made by a company executive, “Texas Instruments Incorporated (TI) (NASDAQ: TXN) Senior Vice President Brian Crutcher will speak at the Credit Suisse 2012 Annual Technology Conference in Scottsdale, Ariz., on Tuesday, November 27, at 10:30 a.m. Mountain time. Crutcher, manager of TI’s Analog business, will field questions from analysts and investors, as well as discuss TI’s semiconductor strategy and outlook for the overall analog market, including High Volume Analog and Logic, Power Management, High Performance Analog and Silicon Valley Analog. He will also discuss how the company’s analog capabilities are positioning it for growth across a range of customers. The audio webcast can be accessed live through the Investor Relations section (http://www.ti.com/ir) of TI’s website. An archived replay will be available on the website after his remarks.”
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