Agere Cuts 2000 Jobs

PHILADELPHIA, April 26 -- Agere Systems, the semiconductor business recently spun off from Lucent Technologies, announced that it would cut 2000 jobs due to the weakening communications market, the company said. Agere also announced a second-quarter loss of $148 million, or 15 cents per share. The company cited the one-time restructuring costs associated with the break up from Lucent and acquisition expenses made while part of Lucent as well as tax adjustments.
Agere will cut its work force to about 16,500 worldwide by the end of June. The cuts primarily will be at manufacturing facilities in Allentown, Breiningsville, and Reading, Pa., as well as in Irwindale, Calif., and Orlando, Fla.