Optical components

Avanex Hatchet Swings

6:20 PM -- Avanex Corp. (Nasdaq: AVNX) laid off 47 people, or about 8 percent of its workforce, on Sept. 30, according to a Securities and Exchange Commission (SEC) filing today.

The reductions are described as "worldwide," to be completed this month. The one facility being closed is in Melbourne, Fla. -- probably the old Essex transceiver and transponder subsidiary acquired last year. (See Avanex Buys Subsidiary and Essex Intros XFP.)

Melbourne's product lines and any manufacturing that might have been there are being moved to Avanex locations in France or China, the filing states.

So what does this mean? We've heard hints that Avanex is going through some severe changes in the wake of ex-CEO Jo Major's firing. Avanex didn't immediately return a call for comment after the late-afternoon SEC filing came to light. In any event, the new regime has its hands full, as shown by its gloomy earnings forecast. (See Avanex Misses Hard and Avanex Axes CEO Jo Major.)

— Craig Matsumoto, West Coast Editor, Light Reading

Be the first to post a comment regarding this story.
Sign In