New Focus, Inc. (NUFO) Message Board

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Technology Stocks : New Focus, Inc. (NUFO)

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To: SemiBull who wrote (429)	3/14/2002 9:36:24 PM
From: SemiBull	Read Replies (1) of 475

New Focus says to cut jobs and take charge NEW YORK, March 14 (Reuters) - New Focus Inc. (NasdaqNM:NUFO - news), a supplier of chip-making equipment, on Thursday said it would cut its workforce by more than a third and exit certain businesses to reduce fixed manufacturing costs and quarterly losses. The San Jose, California-based company said that it will shutter operations at its 243,000 square-foot manufacturing plant in Shenzhen, China, and cease manufacturing and selling passive optical components. New Focus said its total headcount will drop to 390 people at the end of 2002 from 900 at the end of 2001. It will take a restructuring charge of $25 million to $40 million in either the first or second quarter of 2002. New Focus' shares closed at $2.81 on the Nasdaq on Thursday, down from 52-week highs of $23.70.

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