Texas Instruments Lays Off 1700 Employees, Prepares To Leave Mobile Market
It looks like Texas Instruments is getting serious about their downsizing plans, as they move toward a complete withdrawal from the mobile processing market. The opportunities for third parties to provide smartphone and tablet CPUs are starting to dry up, as most of the major manufacturers are moving towards their own first-party processor designs; both Samsung and Apple are now designing their own processors instead of outsourcing the job, for example.
Texas Instruments has seen this change coming, and will be exiting the market as soon as possible. Unfortunately for their employees, this means corporate downsizing, which means people are going to lose their jobs. In a press release received by Engadget today, the American processor maker announced that they’d be laying off 1700 workers.
These layoffs, along with other cost reduction plans, will save the company an estimated $450 million. Texas Instruments is not unaware of the cost of this decision, however; their VP of Embedded Processing says in the press release, “These job reductions are something we do with a heavy heart because they impact people we care deeply about. We will work closely with all employees affected by these changes to provide a range of assistance related to compensation, benefits and job search.”