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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Texas Instruments to cut 400 jobs in Philippines AP - Friday, December 19 MANILA, Philippines - U.S. microchip maker Texas Instruments Inc. is slashing 400 jobs in the Philippines to cope with falling orders amid the global economic crunch, labor officials said Friday. The Dallas-based company notified the Philippine Labor Department of its plan to seek 400 volunteers to take "generous" severence packages among 2,300 employees in its sprawling plant in the northern city of Baguio, said Ana Dione, a Labor Department official. Apart from 400 workers, another 100 employees were to be transferred to Texas Instruments' other plant inside former U.S. Clark Air Base, now a special economic zone north of Manila, she said. "They notified us even before they discussed it with their employees," Dione said. "Because of financial difficulties, they really could not afford to sustain their entire work force, so they are reducing." Company officials could not be reached for comment Friday. The telephone operator said all managers were on leave and could not handle queries from the media. Dione said the company tried to cut costs when orders began falling in the third quarter, including a shortened work week. In 1979, TI set up the assembly and testing facility in Baguio that supplies semiconductors to clients in the U.S., Europe and Asia. The company has since expanded in the Philippines, including the $1 billion plant in Clark where it will employ 3,000 people. TI is among the Philippines' top exporters, reaching US$3.5 billion in 2006. --- On the Net: Texas Instruments: http://www.ti.com Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Citic Pacific approves loan deal with parent: reportAFP - 12 minutes ago Turkish bonds surge after surprise rate cutReuters - 15 minutes ago Turkish Oct c/a gap $2.646 bln, exceeds forecastReuters - 19 minutes ago Europe stocks down after a brief rise on auto newsReuters - 27 minutes ago Putin dismisses protestors, announces carmaker aidReuters - 27 minutes ago Most Popular – Business Viewed Global economy seen sinking into 'severe' 2009 recession: report Oil prices slump to more than four-year lows under 38 dollars Actress Jennifer Aniston appears naked in GQ magazine Ageing L'Oreal heiress defends billion-dollar giveaway 'Orderly' bankruptcy mulled for US carmakers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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