Texas Instrument to close plants in Houston, Japan

Jan 23, 2012

(AP) -- Texas Instruments plans to close computer-chip factories in Houston and Japan in a cost-cutting move that will lay off about 1,000 workers.

The company announced the cutbacks Monday in its fourth-quarter earnings report. The results topped .

The represent about 3 percent of the 34,800 workers that Texas Instruments employed as of Sept. 30.

Closing the factories in Texas and Hiji, Japan, will save Texas Instruments about $100 million annually. The closures are scheduled to occur within the next 18 months.

will absorb $215 million in charges to pay for the closures. About $112 million of that amount was recorded in the fourth quarter. The remainder will be scattered through 2013.

Both of the plants have been operating for more than 30 years.

Explore further: Starbucks: Computer outage disrupts sales in US, Canada

0 shares

Related Stories

Texas Instruments says past 'shallow downturn'

Jan 24, 2011

(AP) -- Texas Instruments Inc. on Monday posted fourth-quarter results that narrowly topped forecasts, and the chipmaker said it is now past a "short and shallow downturn" that hit in the second half of last ...

Texas Instruments 2Q profit falls 56 percent

Jul 20, 2009

(AP) -- Chip maker Texas Instruments says its second-quarter earnings fell 56 percent from a year ago, clipped by a weak economy that the company expects will "take some time" to strengthen.

Texas Instruments lowers 4Q outlook

Dec 09, 2011

(AP) -- Semiconductor maker Texas Instruments Inc. lowered its outlook for its fourth-quarter revenue and profit on Thursday, saying demand had weakened for a variety of products that use its chips.

Recommended for you

How smart are the mobile shoppers who use smartphones?

Apr 24, 2015

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

Apr 24, 2015

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.