Feeds

TI profits sink 95 per cent in 2008

3,400 join out-of-workforce

  • alert
  • submit to reddit

SANS - Survey on application security programs

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." ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.