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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: oldirtybastard who wrote (3355)	1/29/2001 11:19:08 PM
From: 2MAR$	Respond to of 6445

JDS cuts 700 staff at Ottawa plant By Susan Taylor OTTAWA, Jan 29 (Reuters) - JDS Uniphase Corp (Toronto:JDU.TO - news) (NasdaqNM:JDSU - news), the world's No. 1 supplier of fiber-optic components, confirmed on Monday it had laid off 700 contract manufacturing staff. JDS Uniphase told Reuters the cuts were the result of uncertainty over future customer demand and were also part of a streamlining effort to boost efficiency. While reporting financial results last week JDS Uniphase trimmed back its forecasts, blaming near-term uncertainty on carrier spending plans and inventory adjustments. It said third-quarter revenues were expected to grow between seven and 10 percent above the second quarter, a dip from expectations of about 11 to 12 percent. It said revenues for 2001 would come in at the low end of its previous forecast of 115 to 120 percent growth. JDS Uniphase has a total of 10,000 employees following the cuts at the company's Ottawa area manufacturing plant. The company said Adecco SA, which supplies it with contractor workers, notified the employees of the layoff over the weekend. It said 400 of the workers had less than 12 weeks with the company and were therefore permanently let go. The remaining 300 were notified of a 13-week layoff. At the end of those 13 weeks Adecco SA would tell those staff if they were needed by JDS Uniphase or Adecco SA. If not, they would also lose their jobs. Email this story - Most-emailed