Tellabs cuts another 370 jobs

[UpInArms]

http://money.cnn.com/2003/10/03/technology/tellabs.reut/

CHICAGO (Reuters) - Tellabs Inc. said Friday it will cut another 370 jobs, or 10 percent of its work force, and close a development center in Canada as it struggles to return to profitability.

Shares of Tellabs (TLAB: Research, Estimates) rose more than 4 percent in early trading on the Nasdaq.

The telecommunications equipment maker, reeling from five straight quarters of losses, has had seven rounds of job cuts in the past two years during the slump in the telecom sector.

The Naperville, Ill.-based company also said it is considering outsourcing its manufacturing in Finland, although no decision has yet been made.

...more...

guess they didn't get the "memo" either - shhhh! don't talk about layoffs!

[snooper2]

1. That sucks..

370 poor souls on the street with rtrv-crs-t1::380-23;;cts; stuck in their heads...

[UpInArms]

2. okay - I'll bite -

what does:
rtrv-crs-t1::380-23;;cts;

mean?

[snooper2]

3. just a stupid basic DCS command..

Tellabs is best knownf for making DCS equipment, (digital crossconnect systems)

[saigon68]

4. More on the booming economy

I guess the tax rebate checks didn't help.