SAN JOSE, Calif., Dec. 10 -- Bookham Inc., a provider of optical components, modules and subsystems, announced it has adopted a plan to reduce its overhead structure by an additional $6 million to $8 million per quarter. This plan is in addition to ongoing reductions of $10 million to $12 million per quarter it announced in May.
Bookham said it expects the combined plans to be completed before the end of 2005. The plan includes reducing its work force; closing certain facilities, including Bookham's former headquarters in Abingdon, England; and consolidating certain development and manufacturing programs. The restructuring charges associated with this additional reduction cost plan are expected to be $6 to 8 million, consisting of cash expenditures of $4 million to $5 million for employee severance and retention and $1 million to $2 million for facility lease terminations.
Bookham's optical components, modules and subsystems are used in various applications and industries, including telecommunications, data communications, aerospace, industrial and military. Since 2002, the company has acquired the optical components businesses of Nortel Networks and Marconi, as well as Ignis Optics Inc., Cierra Photonics Inc., New Focus Inc. and Onetta Inc.
For more information, visit: www.bookham.com