Obama’s Trickle -Down Pain -Texas Instruments To Cut 1700 Jobs

Expect to see more and more stories like this as Obama war on prosperity kicks into high gear these next four years.

Trickle -Down Pain:

When you hammer the rich with taxes, they can’t provide as many jobs and it is the middle class that suffers most.

PCMAG – Texas Instruments (TI) is cutting 1,700 jobs worldwide in a continued effort to move away from the mobile chip business.

In a Wednesday announcement, the company reiterated its plan to shift from OMAP processors to wireless connectivity solutions, leaving the mobile market behind.

“These job reductions are something we do with a heavy heart because they impact people we care deeply about,” Greg Delagi, senior vice president of TI’s Embedded Processing, said in a statement. “We will work closely with all employees affected by these changes to provide a range of assistance related to compensation, benefits and job search.”

The move will result in an estimated annual savings of about $450 million by the end of 2013, according to the company… Keep Reading

HT Pad Dar

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