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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: larry pollock who wrote (15063)	11/24/1999 3:10:00 PM
From: larry pollock	Read Replies (1) \| Respond to of 18016

Wednesday November 24, 3:02 pm Eastern Time Newbridge layoffs total 700, staff cut to 6,200 KANATA, Ontario, Nov 24 (Reuters) - Troubled Canadian networking gear firm Newbridge Networks Corp. (Toronto:NNC.TO - news) on Wednesday laid off 300 staff at its Ottawa headquarters, and announced 400 additional layoffs in its other operations. Newbridge, which on Tuesday cut 200 jobs in its European operations and will cut another 200 in the U.S. next Monday, is slashing expenses after opening the door to takeover bids last week. ``Today life begins for us,' Pearse Flynn, the firm's new president and chief operating officer told reporters at the company's Kanata, Ontario, headquarters. Flynn refused to comment on speculation over global telecommunications firms that are rumored to be looking at bidding on Newbridge. The company, hammered by investors earlier this month after issuing its sixth earnings warning in 10 quarters, is facing a sales slow-down in the booming U.S. market for its flagship network gear which sends multimedia data across networks at high speed. Newbridge, which will have 6,200 staff after the cuts, wants to trim costs to 36 percent of sales from 46 percent. With job cuts Newbridge is more than halfway to that target. Flynn said the company is planning to contract out mass manufacturing and global services and said an announcement on the services side may come this week. More Quotes and News: Newbridge Networks Corp (Toronto:NNC.TO - news) Related News Categories: Canadian Market News, US Market News

To: larry pollock who wrote (15063)	11/24/1999 3:11:00 PM
From: Captain Jack	Read Replies (1) \| Respond to of 18016

Larry-- the techs are always consolidating. This sector is at the front right now. You are correct saying those that get hurt are always the employees. The samw is happening at coms now as they unload the palm mfg. My research indicates that a portion of the reason nn is at this level is the probability of a buyout. Same thing with yet another I hold,, CS. MGMT here is no worse than Eric at coms... but nn did not luck out and be given the palm os. The research and news also indicates some volatility between 16 and 26. No big deal as it is much more likely to be bought within 6 weeks to 6 months at a hefty premium to from 26.