JDS Uniphase Cutting 5000 Jobs
SAN JOSE, Calif., April 26 -- JDS Uniphase Corp. will eliminate 5000 more jobs, bringing total cuts this year to about 28 percent of its work force. The company will also consolidate the manufacturing of several products, eliminate overlapping research, consolidate product lines and shift some manufacturing to China. It also plans to close several operations and move out of 25 buildings.
JDS reported a net loss of $1.29 billion, or $1.13 a share, in its third fiscal quarter ended March 31, compared with a loss of $240.9 million, or 32 cents a share, in last year's third quarter. The net loss reflects reflected charges related to its merger with SDL Inc., the reduced value in securities, the gain on the sale of a subsidiary and other items.
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