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Optical/IP

Layoffs Top 90,000

A total of more than 90,000 people have been laid off as a result of the bubble bursting in the optical networking industry, according to a survey conducted by Light Reading.

The results, published today (see Grim Reaping: A Downturn Tally), make grim reading. Among the 40 public companies represented in the Light Reading Index, 24 have undergone workforce reductions this year. The total body count comes to more than 84,000 people, and is continuing to increase.

Somewhat symbolically, the company that was riding highest last year -- Nortel Networks Corp. (NYSE/Toronto: NT) -- has taken the biggest fall. Its layoff total of 30,000 is three times bigger than the next company on Light Reading's list, Lucent Technologies Inc. (NYSE: LU)

In terms of percentages of total workforces, however, components manufacturers have come off considerably worse. Avanex Corp. (Nasdaq: AVNX) has shed 56 percent of its staff, and New Focus Inc. (Nasdaq: NUFO) has shed 43 percent.

Among startups, the companies that have made the deepest cuts in staff numbers include:

  • Tachion Networks, which has shed 37 percent of its staff, 169 people;
  • Valiant Networks Inc., 30 percent of its staff, 41 people;
  • WaveSplitter Technologies Inc., 26 percent of its staff, 83 people;
  • Alidian Networks Inc., 25 percent of its staff, 55 people.

    — Peter Heywood, Founding Editor, Light Reading
    http://www.lightreading.com
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    spore 12/4/2012 | 8:06:09 PM
    re: Layoffs Top 90,000 If there are any openings in marketing communications, I would be most interested.

    spore
    spore 12/4/2012 | 8:06:08 PM
    re: Layoffs Top 90,000 If there are any openings in marketing communications, I would be most interested.

    spore
    spore 12/4/2012 | 8:06:08 PM
    re: Layoffs Top 90,000 If there are any openings in marketing communications, I would be most interested.

    spore
    drone387 12/4/2012 | 8:06:07 PM
    re: Layoffs Top 90,000 The Dead - Point Reyes, Mayan, Tachion
    The Distressed Sales - Zaffire
    The Wounded - Jasmine, Empowertel

    An interesting comparison would be a table with pre-bubble, post-bubble employee counts, and percentage change of the top 11.

    kp9988 12/4/2012 | 8:06:06 PM
    re: Layoffs Top 90,000 If every one posts message like you do -- repeat one sentence four times, job openings will be many many more.
    billy_fold 12/4/2012 | 8:06:05 PM
    re: Layoffs Top 90,000 Hey, LightReading, get a clue. Tachion went out of business July 3 and laid everyone off.
    spanky 12/4/2012 | 8:06:01 PM
    re: Layoffs Top 90,000 Don't be surprised if you get lais off is what I think they are saying!!! ;-)
    johnjohn 12/4/2012 | 8:06:01 PM
    re: Layoffs Top 90,000 The summary of the article said that you would offer advice to people affected by the layoffs.

    Where is it?
    surveyor 12/4/2012 | 8:05:55 PM
    re: Layoffs Top 90,000 In addition to the obvious overindulgences resulting in reductions, there are boards in the industry that are: 1] looking at this as an opportunity to "clear some space" to save some dough, and at any other time they would receive negative headlines; this is an opportunity to skinny down their headcount, cut cashflow, in a "everybody's doing it" environment; 2] looking to force layoffs because it must be the "right thing to do", everybody's doing it.
    <<   <   Page 2 / 6   >   >>
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