April 17, 2001 – Texas Instruments Inc. plans to lay off at least 2,000 workers in response to the soft demand for its semiconductor products, according to published reports.
The Wall Street Journal quoted sources familiar with TI’s plans as saying that the number of layoffs from its worldwide work force of 42,400 will depend on how many employees accept the voluntary retirement offer, which expired yesterday. TI is to announce its first-quarter financial results later this afternoon.
TI spokeswoman Donna Coletti said only, “All I can say is that, other than cost reductions already announced, there is nothing to announce.”
The company said last month it would close a plant in Santa Cruz, CA, cutting 600 jobs.