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Texas Instruments to cut 1,700 jobs as part of its shift away from mobile

Texas Instruments signaled its intentions to back away from the volatile mobile market as the summer came to a close. Unfortunately, we’re now learning that the shift comes at a price — as part of a wider set of cost-cutting measures, TI is shedding roughly 1,700 jobs worldwide. The chip designer hasn’t said how soon the layoffs take effect, but these and the overall budget trimming should lead to savings of about $450 million per year by the end of 2013. That’s not going to be reassuring to those who’ll soon find themselves looking for work, although it may be necessary for TI to survive when the market for off-the-shelf mobile processors is rapidly thinning out.

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