Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (39048)	4/17/2001 4:18:25 AM
From: Stoctrash	Respond to of 50167

How is your chip economy doing????? Tuesday April 17, 4:08 am Eastern Time Texas Inst set to lay off at least 2,000 - WSJ NEW YORK, April 17 (Reuters) - Computer chip maker Texas Instruments Inc. (NYSE:TXN - news) is expected to announce layoffs of at least 2,000 workers as soon as Tuesday, the Wall Street Journal reported in its online edition on Tuesday. Citing people familiar with the plans, the paper said the job cuts reflect softer demand for Texas Instruments' semiconductor products in a slowing economy. The expected job cuts suggest that the chip maker is encountering more serious problems than when it warned seven weeks ago that first-quarter sales would slip 20 percent from the fourth quarter's $3.03 billion to about $2.4 billion, the report noted. Dallas-based Texas Instruments said at the time that its operating profit margins also were being squeezed and began a voluntary retirement program for 2,600 employees, which expires Monday, the paper said. The firm announced a hiring freeze and cut discretionary spending, but avoided large-scale layoffs. Citing several Texas Instruments managers, the report said the exact number of layoffs from the global work force of 42,400 would depend on how many of the 2,600 people accepted offers of voluntary retirement. Last month, Texas Instruments said it would close a plant in Santa Cruz, Calif., eliminating 600 jobs. The company is scheduled to report its earnings Tuesday. A company spokeswoman declined comment, the report said. Shares of Texas Instruments closed down $2.44 at $33.01, off a 52-week high of $90, up from a year low of $26.28.