Cutting 128 people in its manufacturing operations

March 16, 2001

1 Min Read

MONTREAL -- ITF Optical Technologies Inc. ("ITF" ), a privately held designer, developer and manufacturer ofpassive photonic components for optical communication networks, todayannounced that it is reducing its workforce by 128 people. Thereductions will be concentrated in its manufacturing operations.

“We are taking this step because of the fast changing economicenvironment and the slowdown of capital spending in thetelecommunications industry, which have resulted in decreased customerdemand for photonic products. We will work closely with all affectedemployees to ensure that they are offered the appropriate support duringthis transition period,” said Eric Geoffrion, ITF's President and CEO.

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