Texas Instruments plans to pinkslip 170 people in India
Shayan Ghosh Bangalore:Dec 5, 2012 DH News Service 21:52 IST
Dallas-based Texas Instruments would lay off close to 170 people in its India operations primarily concentrated in Bangalore, according to sources on Tuesday.
Texas Instruments India Director (Communications) K S Narahari declined to specify the number of employees being laid off, but said in an emailed statement, “I would like to emphasise that India remains an important design and development site for Texas Instruments (TI) with employees supporting nearly all embedded processing and analog technologies. As per our policy, we will not be able to comment on the numbers.”
Media reports had earlier indicated that TI is planning slash its India workforce by effecting about 300-500 job cuts as part of a global cost-cutting program.
Narahari said that there will be opportunities for some of the displaced employees to be redeployed in other growth areas of the company.
Last month, the company had announced plans to cut 1,700 jobs globally, saying that it will reduce costs and focus its investments on the "wireless business on embedded markets with greater potential for sustainable growth”.
TI had previously outlined its intentions to focus on OMAP processors and wireless connectivity solutions on a broader set of embedded applications with long life cycles, instead of its historical focus on the mobile market where large customers are increasingly developing their own chips. These changes, the company said, require fewer resources and lesser investment in the mobile market.
The company expects yearly savings of about $450 million by the end of 2013 from the layoffs exercise. Total charges will be about $325 million, most of which will be accounted for in the current quarter.
“We have a great opportunity to reshape our OMAP processor and wireless connectivity product lines to concentrate on embedded markets. Momentum is already building with new embedded applications, and we are accelerating our efforts in these areas,” TI Senior Vice-President (Embedded Processing) Greg Delagi said recently.