Texas Instruments Chops 1700 Jobs

Dallas-based Texas Instruments said Wednesday that it is cutting about 1,700 jobs worldwide, as part of an effort to reduce costs at the company. The firm said the move goes to help it reduce its costs and focus investments in its Wireless business. The firm said the move comes as its large customers are increasingly developing their own, custom chips in the mobile market. TI said it expects to save around $450M in annual savings from the cuts.