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Ciena to Cut 400 Jobs

Photonics.com
Feb 2002
BALTIMORE, Feb. 6 -- Ciena Corp. said it will cut 400 jobs, or 12 percent of its work force, and expects its first-quarter loss to be nearly double what analysts had been expecting.

Excluding charges, Ciena said it expected to lose between 19 and 22 cents a share. Second-quarter revenue is also expected to be flat or down compared with the first quarter, said Gary Smith, Ciena's president and CEO.

As a result, the company said it is cutting 12 percent of its work force and closing its Marlborough, Mass., research and development facility. The cuts follow an announcement in November that the company was cutting 380 employees.



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