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Agere Systems to Further Reduce Workforce

Photonics.com
Dec 2001
ALLENTOWN, Pa.- Agere Systems announced it will further reduce its workforce by approximately 950 employees, part of ongoing actions to reduce its cost structure and lower its quarterly break-even level from $900 million to $700 million.

Agere previously announced plans this year to eliminate approximately 6,000 jobs as a result of a significant downturn in industry demand for semiconductors. The additional jobs cuts are primarily management positions within Agere's product groups, worldwide sales organization and corporate support functions. After those jobs are cut, Agere will have a workforce of approximately 11,300. The majority of employees included in the recent cuts are located in New Jersey and Pennsylvania. They are expected to leave Agere's payroll over the next several months.

Agere announced a restructuring plan earlier this year that included manufacturing consolidation, workforce reductions and asset impairment charges. In November, Agere discontinued operations at its plant in Madrid, Spain, a month ahead of schedule.



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