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Agere to Cut 4,000 Jobs and Exit Optoelectronics

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ALLENTOWN, Pa., August 15 -- Agere Systems has announced it will cut a third of its work force -- about 4,000 jobs -- and exit its optoelectronics business, which represented about 10 percent of its total revenues. Instead, it will focus on its main revenue generator, supplying integrated circuits that access, move and store network information for everything from telecommunications hardware to desktop computers, said John Dickson, president and CEO. Agere is seeking a buyer for all or parts of this business, but will discontinue optoelectronics operations no later than June 30, 2003. The...Read full article

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    Published: August 2002
    CommunicationsindustrialNews & Features

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