All the layoffs we've been having lately can be attributed to two things: bad senior management and lack of vision.
People who are holding the top positions at Texas Instruments have no idea how to run a company like this. They focus exclusively on quarterly results and how the stock will be affected if they don't meet the goals they set up.
And the easiest way to make sure the costs go down is to cut people. They don't realize that so many cuts and layoffs are leaving us without some of our best employees. People who'd be invaluable to this company if the management only got their heads from their behinds and started developing a long-term vision for the company.
Basically, if we are to get back to our former glory, we need new senior management. I doubt that'll happen, though.