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ONI Systems Cutting Workforce 16 Percent
Oct 2001
SAN JOSE, Calif., Oct. 17 -- ONI Systems Corp. has cut its workforce by about 16 percent as part of its plan to cut expenses due to the downturn in capital spending in the telecommunications sector. The optical communications gear maker in September slashed its revenue outlook for the rest of the year and said it would record charges in the third and fourth quarters to resize its business and reduce expenses.

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