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Article: Texas Instruments to Sell Its Chip Unit to Micron; Firm to Restructure, Cut 3,500 Jobs
- Article from:
- The Washington Post
- Article date:
- June 19, 1998
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Texas Instruments Inc., the world's biggest maker of
semiconductors for mobile phones, said it will sell its money-losing
memory chip business to Micron Technology Inc. for $800 million and
will eliminate 3,500 jobs in other parts of the company to cut
costs.
Texas Instruments will take an unspecified second-quarter
charge for the job cuts and for the shutdown of several plants. The
moves are part of Texas Instruments' effort to focus on
semiconductors used mostly in the communications industry.
The company has been eager to shed its dynamic random-access
memory, or DRAM, chip business because it's losing money while its
other chip operations prosper. Its exit from the memory chip ...