Feeds

TI profits sink 95 per cent in 2008

3,400 join out-of-workforce

  • alert
  • submit to reddit

Securing Web Applications Made Simple and Scalable

Texas Instruments has added to the crowd of tech workers clogging their local unemployment offices, announcing that 3,400 of its employees would soon become part of the growing US out-of-workforce.

Texas Instruments logo

Today, with a statement that should have been published in The Daily Euphemism, the suffering company's chairman, president, and CEO Rich Templeton said "We are realigning our expenses with a global economy that continues to weaken."

The company's fourth-quarter operating profits sunk by 95 per cent, from $996m in 2007 to $51m in 2008.

Still, that $51m isn't a red number - and any profit these days is a blessing. Compare TI's position, for example, to that of AMD, which last week announced a $3.1bn loss in 2008.

TI's tiny profit, however, will be cold comfort to the 12 per cent of its workforce now eyeing the exit door. 1,800 will be shed through layoffs, 1,600 through "voluntary retirements and departures." ®

Build a business case: developing custom apps

More from The Register

next story
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.