Layoffs “very small,” no products eliminated
1/20/2017 04:00 PM EST
SAN JOSE, Calif. – Texas Instruments laid off a small but undisclosed number of people mainly in Silicon Valley as part of a restructuring of its Analog and Embedded Processing groups. No products will be eliminated in the reorg.
The move comes as TI prepares to announce quarterly earnings on January 24. The company has seen improving profits and a rising stick price over the last year, although at least one analyst recently announced he will maintain a hold rating on the stock.
“Within our Analog structure, we used to have four business entities and now we will have three–aligned by product categories our customers think about,” a TI spokesperson said. “No products or product portfolios have been eliminated…We did have a very small number of reductions in support functions,” she added.
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