Tellabs to lay off 800; shut Irish plant
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.