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Corning Plans More Job Cuts

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CORNING, N.Y., April 30 -- Fiber optics maker Corning Inc. reportedly is eliminating 1000 jobs on top of 3300 already targeted in recent weeks. The latest cutbacks were announced late last week as Corning reported a first quarter net profit of $132 million, or 14 cents per share, up 71 percent from $77 million, or 9 cents per share, in last year's first quarter.     Sales rose 42 percent to $1.92 billion from $1.35 billion a year ago. Most of the latest cuts will be made at its photonic technologies plants near Corning, N.Y., Scranton, Pa., Bedford, Mass., and Rochester, N.Y. In all, 2500...Read full article

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    Published: April 2001
    Communicationsfiber opticsNews & Features

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