Texas Instruments cuts 1,700 jobs, winds down tablet chips

Texas Instruments is eliminating 1,700 jobs, as it winds down its mobile processor business to focus on chips for more profitable markets like cars and home appliances.

Texas Instruments said in September it would halt costly investments in the increasingly competitive smartphone and tablet chip business, leading Wall Street to speculate that part of the company’s processor unit, called OMAP, could be sold.

The layoffs are equivalent to nearly 5 percent of the company’s global workforce.

via Business feed http://www.scmp.com/business/companies/article/1082900/texas-instruments-cuts-1700-jobs-winds-down-tablet-chips