Texas Instruments decides to stop Houston plant operations

Posted on January 24th, 2012 No Comments

The Houston estate planning lawyers of Garg & Associates have learned that after a 68 percent decline in profits in the fourth quarter, Texas Instruments has decided to stop their operations at two plants. One of those plants is the Houston plant, which has been in operation for more than 40 years.

This decision also affects roughly 1,000 employees, who will be out of jobs as well. These changes in the company will allow Texas Instruments to save more than $100 million on a yearly basis. All of the production at these two plants will be shifted to other plants throughout the world.

After news of the closings became public, the shares of stock in the company rose by 3 percent, or $1.11. The plant closings will go into effect immediately and will be carried out within the next 18 months. To learn more about local Houston news, please visit the Houston Chronicle today.

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