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Optelecom-NKF Cuts 23 Jobs

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GERMANTOWN, Md., Sept. 16, 2009 -- Optelecom-NKF Inc., a supplier of video over IP (VoIP) and video-over-fiber products, announced Wednesday it will cut 23 jobs in the US and Europe as the result of a strategic review of its operations.

"Earlier this year the impact of the recession prompted us to implement a number of measures to reduce costs without directly impacting employees," said Dave Patterson, Optelecom-NKF's president and CEO. "However, it's apparent that we need to identify additional cost savings as the economic downturn continues to affect order flow."

The company said the reductions will cost it about $127,000 during the third quarter of 2009 but are expected to save approximately $1.6 million in 2010. The reductions include employees, contract employees and open positions.

"We're staying on top of the business and we're prepared to respond quickly to changing market conditions," Patterson said. "We believe this cost-saving action, the continued rollout of new award winning technologies, and the refinement of our sales structure positions us for the future."

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Sep 2009
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
BusinessCommunicationscost savingsDave Pattersoneconomic downturnemployeesEmploymentfiber opticsimagingjobsNews & FeaturesOptelecom-NKFphotonicsrecessionreductionstrategic reviewvideo over fiberVoIP

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