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

Fiber-optics component maker blames business environment for reductions
graphic
graphic graphic
graphic
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





graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.