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Excelitas Technologies Corp. - X-Cite Vitae LB 11/24

Ciena to Cut Workforce by 650

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LINTHICUM, Md., March 28 -- Ciena Corp. is cutting about 650 jobs, or 22 percent of its work force. The cuts follow a reduction of about 400 jobs announced in February. The company said the latest job cuts would save about $150 million a year but would result in a second-quarter charge of between $125 million and $135 million. Ciena also said it would take a second-quarter charge of between $200 million and $225 million for excess inventory of long-haul transport products and purchase commitments from suppliers.Read full article

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    Published: March 2002
    industrialNews & Features

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