Texas Instrument to close plants in Houston, Japan

(AP) -- Texas Instruments plans to close computer-chip factories in Houston and Japan in a cost-cutting move that will lay off about 1,000 workers.

The company announced the cutbacks Monday in its fourth-quarter earnings report. The results topped .

The represent about 3 percent of the 34,800 workers that Texas Instruments employed as of Sept. 30.

Closing the factories in Texas and Hiji, Japan, will save Texas Instruments about $100 million annually. The closures are scheduled to occur within the next 18 months.

will absorb $215 million in charges to pay for the closures. About $112 million of that amount was recorded in the fourth quarter. The remainder will be scattered through 2013.

Both of the plants have been operating for more than 30 years.

©2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Citation: Texas Instrument to close plants in Houston, Japan (2012, January 23) retrieved 29 March 2024 from https://phys.org/news/2012-01-texas-instrument-houston-japan.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Texas Instruments raises 4Q profit, sales targets

0 shares

Feedback to editors