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Texas Instruments to cut 1,700 jobs in reorganization
by Staff Writers
New York (AFP) Nov 14, 2012


US tech firm Texas Instruments said Wednesday it was cutting 1,700 jobs worldwide as it cuts back on chips for mobile phones.

The Dallas-based firm said it would focus on processors for devices and applications "with long life cycles," instead of the mobile market "where large customers are increasingly developing their own custom chips."

The company has shifting its focus away from mobile phones and tablets to chips for industrial equipment and the automotive sector.

"We have a great opportunity to reshape our OMAP (Open Multimedia Applications Platform) processor and wireless connectivity product lines to concentrate on embedded markets," said TI vice president Greg Delagi.

The company expects annualized savings of about $450 million by the end of 2013.

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Lagarde wants 'real fix, not quick fix' on Greek debt
Kuala Lumpur (AFP) Nov 14, 2012
The International Monetary Fund wants a "real fix, not a quick fix" on Greek debt, its managing director said Wednesday, days after publicly clashing with European officials on the issue. Christine Lagarde also urged US legislators "at all costs" to avoid the "fiscal cliff" of spending cuts and tax rises that will come into effect January 1 unless the two parties can agree a deficit and debt ... read more


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