Layoffs in Texas-land

As part of a sale of their wireless baseband chip division Texas Instruments looks to cut costs to show a better book to potential buyers. They are due to disperse 650 employees to achieve this objective, with about 300 to have a layoff (sourced figures). A terrible job market awaits those affected by this trauma at the most unfortunate time of year.

When laid off into a horrible job market many of them will be looking to cut expenses and further pressure the retail sector. Additionally, many of their coworkers who now will worry about uncertainty will likely reign in their spending.