|
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'
|
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.
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.
Click here for a look at networking stocks
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." 
|
|
|
|
|
|
JDS Uniphase
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
