TI to cut Sherman jobs

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SHERMAN, TX -- A major Sherman employer, forced to lay off up to 40 workers.

Texas Instruments spokesperson Gail Chandler says those involuntary cuts will take place over the next couple of weeks, and are permanent.

Laid off employees will receive severance packages, including insurance. Chandler blames the cutbacks on the difficult global economy, saying TI's revenue dropped 26% during the 4th quarter.

About 1,000 people work at the Sherman TI plant. Worldwide, TI will cut 3,400 jobs.

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