TI has 400 employees at its R&D center in Israel.
Texas Instruments Inc. (NYSE: TXN) will lay off 3,400, 12% of its workforce, following the publication of disappointing financials yesterday. The layoffs will include employees at the company's Israeli units.
According to IVC Online, Texas Instruments has 400 employees at its R&D center, which is based on the acquisitions of Libit in 1999 and Butterfly in 2002.
Texas Instruments did not state in which business segments or geographical regions it would make the layoffs, but if they are across-the-board and uniform, several dozen Israeli employees could lose their jobs.
Texas Instruments said in response, "Cutbacks will be made in a number of countries in the EMEA, but the impact of the measure on Israel will be fairly small."
Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2009
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