Juniper Networks Expected to Cut 10% of Its Work Force
By: David Bank, Staff Reporter of The Wall Street Journal
SAN FRANCISCO -- Juniper Networks (NasdaqNM: JNPR - News) Inc. , hard-hit by the downturn in capital spending in the telecommunications sector, is expected to cut up to 200 jobs, or 10% of its work force.
A person familiar with the situation told The Wall Street Journal that the Sunnyvale , Calif. , maker of Internet-switching equipment will announce the job cuts Thursday when the company releases results for the second quarter. Juniper is expected to report a loss of one cent a share, compared with a profit of nine cents a share in last year's second quarter, according to analysts surveyed by Thomson Financial/First Call.
Juniper, the major challenger to Cisco Systems (NasdaqNM: CSCO - News) Inc. in the market for routers that direct Internet and other network traffic, in May agreed to acquire Unisphere Networks Inc., a unit of Siemens AG (SI). The company is expected to announce that it is dropping at least one product from Unisphere's product line, according to the person familiar with the situation. |
