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News > Technology
JDS trims work force 10%
February 27, 2001: 10:08 a.m. ET

Fiber-optics component maker blames business environment for reductions
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NEW YORK (CNNfn) - JDS Uniphase Corp., the world's top supplier of fiber-optic components, announced plans Tuesday to slash approximately 3,000 jobs, or about 10 percent of its global workforce.

graphicThe San Jose, Calif.-based company blamed the current business environment and said the reductions will be concentrated mostly in its passive component manufacturing operations in California and Ottawa, Canada.

JDS stated, however, that "it intends to continue to hire for key positions in its high-growth product areas."

The announcement came just weeks after the company warned that earnings for the fiscal third quarter will fall short of Wall Street's expectations by some 19 percent.

Shares of JDS (JDSU: Research, Estimates) were down $3.62 at $29 in late afternoon trading Tuesday. The stock has been trading between $153.42 and $28.75 in the past year. graphic





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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.