Tellabs to lay off 800; shut Irish plant

Sept. 13, 2002
6 September 2002 -- Tellabs is to cut its workforce by about 800, including 400 in the US and 400 by closing a plant in Shannon, Ireland by end-2002.

6 September 2002 -- US core-switch maker Tellabs Inc says that it expects Q3/2002 sales to be down 15-25% on Q2's USD345m. It will therefore cut its worldwide workforce by about 800, including 400 in the US and 400 by closing a plant in Shannon, county Clare, Ireland by the end of 2002.

The Irish operation once employed nearly 800 people. In 2001 Tellabs closed its plant in Drogheda, near the border with Northern Ireland, with the loss of 200 jobs. The company has cut nearly 4,000 jobs worldwide (over 40% of its workforce) since mid-2001.

By Q1/2003 Tellabs quarterly operating expenses will be cut from USD165m to USD145m, contributing to expected annualised operating savings of USD80m in 2003.

www.tellabs.com

Sponsored Recommendations

How AI is driving new thinking in the optical industry

Sept. 30, 2024
Join us for an interactive roundtable webinar highlighting the results of an Endeavor Business Media survey to identify how optical technologies can support AI workflows by balancing...

On Topic: Optical Players Race to Stay Pace With the AI Revolution

Sept. 18, 2024
The optical industry is moving fast with new approaches to satisfying the ever-growing demand from hyperscalers, which are balancing growing bandwidth demands with power efficiency...

The AI and ML Opportunity

Sept. 30, 2024
Join our AI and ML Opportunity webinar to explore how cutting-edge network infrastructure and innovative technologies can meet the soaring demands of AI memory and bandwidth, ...

Advances in Fiber & Cable

Oct. 3, 2024
Attend this robust webinar where advancements in materials for greater durability and scalable solutions for future-proofing networks are discussed.