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JDS Uniphase, Losing Billions, Cuts More Jobs

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CHICAGO, April 26 -- JDS Uniphase Corp. said it plans to cut another 2000 jobs in the wake of a quarterly net loss of $4.3 billion. In addition to the job cuts, the company will also close additional sites, including a plant in Columbus, Ohio, by September.

Co-Chairman, President and CEO Jozef Straus said JDS does not know when the market will hit bottom. "We cannot predict with certainty that June will be the bottom," he told analysts on a conference call. "Given this, we still expect recovery from the low point, whenever it occurs, being modest initially, and we cannot provide any additional guidance at this time."
Apr 2002
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