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05 Jul 2002
Corning Cable Systems is slashing 720 jobs across Europe as part of its restructuring process.
In response to the prolonged downturn in the telecommunications industry, Corning Cable Systems (CCS) is shedding 38% of its European workforce. By the end of the year, the total number of European employees will plunge from 1900 to 1180.
"We must face current business realities," said Larry Aiello, chief executive officer of CCS. "These actions offset the dramatic reduction in customer demand."
The plan affects many of the company's commercial, management and manufacturing operations. In Germany, all commercial operations will now be housed in Berlin and only international sales and marketing will remain in Munich. In the UK, the customer service center in Guildford will close.
Optical cable manufacture in Berlin is to be halted and the Whiston plant in the UK will also close after lying idle for the past five months. At the Germany-based Neustadt bei Coburg site, the company will downsize its cable manufacturing and discontinue cable assembly operations. In Lodz, Poland, production of cable assemblies and fiber-optic hardware will also be reduced.
These actions are to be completed by the first quarter of 2003.
A spokesperson for Corning could not rule out further cuts. "Our intention was to reduce our cost to cover revenues. If revenues drop further, we'll have to examine more reductions."
Author
Jacqueline Hewett is news reporter on Optics.org and Opto & Laser Europe magazine.
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