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JDS Uniphase to Cut 850 Jobs

Photonics.com
Apr 2005
SAN JOSE, Calif., April 21 -- JDS Uniphase Corp. said it will reduce manufacturing positions by more than 15 percent (approximately 700, plus 150 support positions) by the end of the year in a move to consolidate its North American operations.

The company said it will move its Ewing, N.J., and Melbourne, Fla., manufacturing facilities to its Shenzhen, China, facility and will transfer its Ewing and Mountain Lakes, N.J., manufacturing sites to Fabrinet, a manufacturing partner. Fabrinet has an office in San Francisco and manufacturing facilities in Thailand and Spain. JPS Uniphase also said it will reduce manufacturing in Santa Rosa, Calif., along with phasing out certain display products including high-volume consumer light engines and coated microdisplay windows.

"These initiatives are part of a multiquarter business transformation strategy for JDS Uniphase to achieve profitability by reducing cost structure and improving corporate agility," said president and CEO Kevin Kennedy. "We firmly believe that our ability to restructure major operations and rationalize our current portfolio, while investing in next-generation products, positions JDS Uniphase for success and differentiates us from the competition."

The facility transfers to Fabrinet are expected to be completed by the end of the current quarter, ending June 30, 2005; and the remaining actions are expected to be completed by the end of the second quarter of fiscal 2006, ending Dec. 31, 2005.

The company also confirmed that it expects to achieve $155 to $165 million in revenue for the third quarter of fiscal 2005, and that non-GAAP loss per share would be approximately two cents.

JDS Uniphase makes components, modules and equipment used to build fiber optic and cable TV networks and lasers, test equipment and optical components for computer displays, medical instruments and satellites.

For more information, visit: www.jdsu.com/investors



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