Sonus Networks to get rid of about 85 of its 492 employees, reducing its worldwide workforce by 17%

August 9, 2002

1 Min Read

WESTFORD, Mass. -- Sonus Networks (Nasdaq: SONS) today announced that as part of its ongoing cost reduction initiatives in the currently challenging telecommunications environment, the Company is reducing its worldwide workforce, presently 492 employees, by approximately 85 personnel or 17%. In connection with the workforce reduction, the Company expects to record a restructuring charge of approximately $3 million in Q3 FY2002, primarily representing severance expenses and charges associated with excess facilities. "While these workforce reductions are difficult for all involved, today's actions reflect one of our key priorities - preserving the financial strength of our business," said Hassan Ahmed, president and CEO, Sonus Networks. "We remain committed to delivering technologies and solutions that lead the industry, broadening our customer base, and providing our customers with unmatched service and support." Sonus Networks Inc.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like