Anadigics to Cut Work Force
WARREN, N.J., June 13 -- Anadigics Inc. a maker of circuits and chips used in wireless and broadband communications systems, said it will fire about 65 employees, or 10 percent of its work force, and post a wider-than-expected second-quarter loss. In March, Anadigics cut its second-quarter outlook due to softness in the communications industry. Component and equipment makers have been hurt as telephone, cable television and Internet companies have cut their capital spending in the slowing economy.
"Current market conditions that are impacting the visibility for the company and the industry at large, as well as our efforts to return to profitability, requires these actions," said president and CEO Bami Bastani.
MORE FROM PHOTONICS MEDIA