Texas Instruments has loss, sues Fujitsu

Article Abstract:

Texas Instruments Inc (TI) reports the largest quarterly loss in the electronics company's history. TI losses $157 million, which compares with a net income of $11 million, or 2 cents a share, in the same period in 1990, despite a 6.3 percent growth in sales to $1.69 billion. TI cites charges associated with cutting 3,200 jobs in its worldwide operations as a reason. Separately, TI reveals that Fujitsu Ltd, one of the largest electronics companies in Japan, challenges TI's right to royalties on technology that TI believes is covered by the so-called Kilby patent. Fujitsu says its products do not depend on technologies covered by the patent, and therefore, Fujitsu should not pay royalties. TI plans to file a legal action in Japan.

Japan, Cases, Finance, Profits, International competition (Economics), Fujitsu Ltd., Lawsuits, Japanese Competition, Profit, Patent, FUJIT

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Staff cuts more costly at Texas Instruments

Article Abstract:

Texas Instruments Inc (TI) expects a special charge of $55 million against its 3rd qtr 1991 income because of expenses associated with the semiconductor company's voluntary retirement program. The company expected about 2,000 employees to take advantage of the program, but 2,900 actually did. The additional costs come from severance pay; the retirement fund itself is well-funded. The company says even more jobs will have to be cut because of continued unfavorable economic conditions. TI, which lost $212 million in the first half of 1991, foresees its worst loss this year. Earnings for 3rd qtr 1991 are scheduled to be announced on Oct 19, 1991. TI's stock is up 62.5 cents on Oct 10, closing at $29.50.

Human resource management, Retirement, Labor costs, Personnel Management, Work Force Reduction

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