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Corning Trims Fiber Operations

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CORNING, N.Y., Sept. 4 -- Corning Incorporated is reducing its worldwide optical fiber workforce by approximately 1,000 employees by the end of 2001 in response to the continuing downturn in the telecommunications sector. The reductions will include hourly and salaried employees primarily at manufacturing locations. James B. Flaws, Corning's chief financial officer, said the company has seen a sudden slowing in orders across all fiber product lines, and now expects overall market growth for optical fiber in 2001 to be significantly less than the previous 15 percent outlook. Corning said its...Read full article

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    Published: September 2001
    CommunicationsindustrialNews & Features

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