Tech layoff parade continues: TI cuts 12 percent of workforce (ZDNet)

Texas Instruments is cutting 12 percent of its workforce because the company is “not counting on a near-term economic rebound for improvement.” TI delivered the latest round of cutbacks–joining companies like Microsoft, Intel and Sprint–as it reported better than expected fourth quarter results. TI said there will be 1,800 layoffs and 1,600 voluntary retirements or departures (statement). The …