Texas Instruments to Close Plant

Bloomberg News

Texas Instruments Inc. said it will close a plant in Santa Cruz and fire 600 people as slowing economic growth cuts demand for its products. The job cuts represent about 1.4% of the Dallas-based chip maker's work force. The company said it will offer other positions to a small percentage of the employees. Production at the plant, which makes chips used in computer hard-disk drives, will be shifted to facilities in Dallas and Houston. Texas Instruments shares fell $1.30 to close at $31.51 on the NYSE.

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