Texas Instruments to cut 400 jobs

According to Washington Post, Texas Instruments, a leading US microchip maker, “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. “