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Tellabs cuts jobs, plans to close Canadian facility
By Ottawa Business Journal Staff
Fri, Oct 3, 2003 11:00 AM EST
Tellabs Inc., an Illinois-based telecom equipment maker, said Friday it will cut another 370 jobs and close an R&D centre in St. Laurent, Que.
The cuts represent 10 per cent of the company's remaining workforce and makes for the seventh round of job cuts in two years.
Tellabs has posted losses for five straight quarters as it feels the same pain as other telecom equipment makers such as Nortel Networks, JDS Uniphase, Alcatel and Lucent Technologies.
The St. Laurent operation, Tellabs' sole Canadian footprint, will close by the middle of next year.
The company also said it is considering outsourcing its manufacturing to Finland, but no final decision has been made.
"Tellabs International continues to rigorously review its overall costs and resources in line with its strategy," the company said in a statement.
The cuts come a few weeks after Tellabs said it would offer a voluntary buyout package to employees to reduce the number of outright layoffs it would have to make.
The company said affected employees will receive at least six weeks severance pay, benefits and outplacement assistance.
Company spokesman George Stenitzer said Tellabs expects to have 3,450 employees by mid-2004, down about 60 per cent from its peak of 8,900 in April 2001.
A plant closure in Illinois in August cost 325 jobs.
By Ottawa Business Journal Staff
Fri, Oct 3, 2003 11:00 AM EST
Tellabs Inc., an Illinois-based telecom equipment maker, said Friday it will cut another 370 jobs and close an R&D centre in St. Laurent, Que.
The cuts represent 10 per cent of the company's remaining workforce and makes for the seventh round of job cuts in two years.
Tellabs has posted losses for five straight quarters as it feels the same pain as other telecom equipment makers such as Nortel Networks, JDS Uniphase, Alcatel and Lucent Technologies.
The St. Laurent operation, Tellabs' sole Canadian footprint, will close by the middle of next year.
The company also said it is considering outsourcing its manufacturing to Finland, but no final decision has been made.
"Tellabs International continues to rigorously review its overall costs and resources in line with its strategy," the company said in a statement.
The cuts come a few weeks after Tellabs said it would offer a voluntary buyout package to employees to reduce the number of outright layoffs it would have to make.
The company said affected employees will receive at least six weeks severance pay, benefits and outplacement assistance.
Company spokesman George Stenitzer said Tellabs expects to have 3,450 employees by mid-2004, down about 60 per cent from its peak of 8,900 in April 2001.
A plant closure in Illinois in August cost 325 jobs.
