Feeds

Bookham axes 100 workers

Over-hyped optical networker warns sales to drop by half

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Over-hyped optical networking vendor, Bookham Technology plc, is to cull 12 per cent of its workforce amid plummeting sales and little sign of any immediate upturn in demand.

One hundred jobs will be lost at the London Stock Exchange- and NASDAQ-listed company as it reported today that sales for the quarter ended July 1 would be down 45-55 percent on the previous three months, although still up around 15-35 per cent on the same quarter in 2000.

Shares in London tumbled 49p (17.6 per cent) to 230p by mid afternoon - a far cry from the £55 a share it recorded last year.

The company blamed declining "market conditions" for the job losses and revised figures.

In a statement, Giorgio Anania, president and CEO, said: "Near-term visibility in our market place remains poor."

"We continue to look carefully at our cost structure, especially in manufacturing.

"At the same time, there is plenty of work ongoing with customers to design in our new products, and we are seeing good progress in this area. Therefore we are continuing to invest heavily in R&D, which we are able to maintain because of our strong cash position," he said. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.