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News > Technology
JDS eyes deeper job cuts
June 27, 2001: 10:18 a.m. ET

Fiber-optic component maker says cut beyond 5,000 job reduction now 'likely'
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NEW YORK (CNNfn) - Fiber-optic component maker JDS Uniphase Corp. now expects layoffs to exceed the 20 percent cut in its work force announced in April, a company spokeswoman said Wednesday.

Lori Goulet, spokeswoman for the largest maker of components and modules used in fiber-optic networks, said layoffs likely will go beyond the 5,000 announced when it issued a profit warning April 24.

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JDS Uniphase (JDSU: up $0.37 to $12.40, Research, Estimates) issued another warning two weeks ago. It did not specify additional layoffs at the time, although it said it would be looking for additional cost savings.

Goulet would not speculate on the final size of the layoff. She said more information should be available when the company reports results of its fiscal fourth quarter July 26. She said there were layoffs taking place Wednesday at the company's co-headquarters in Ottawa, but that they were part of the layoffs announced in April.

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Goulet said the need for deeper cuts was suggested by the June warning when JDS said, "The company is carefully reviewing its expense structure in connection with the preparation of its fiscal 2002 operating plan to determine the changes, including additional charges under the company's previously announced global realignment plan, required to respond to this revised sales forecast." graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

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Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.