Tellabs Cutting More Jobs
The company has just announced third-quarter revenues of US$264.4 million, down nearly 20 percent compared with the same period a year ago and at the low end of its revenues guidance for the quarter.
It expects fourth-quarter revenues to be in the range of $240-260 million, way below the $290.4 million anticipated (on average) by Wall Street analysts and a long way short of the $317 million reported for the fourth quarter of 2011.
The transport equipment vendor announced earlier this year that it was cutting 530 jobs and has subsequently reduced its operating costs. Now it's looking for more of the same as the carrier capex squeeze hits its sales. (See Tellabs to Restructure, Cut 530 Jobs.)
— Ray Le Maistre, International Managing Editor, Light Reading