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One in ten workers squeezed out at Juniper

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Juniper Networks yesterday announced plans to lay off 10 per cent of its workforce following the completion of its Unisphere Networks acquisition from Siemens.

The company, which is second-placed behind Cisco System in the high-end routing market, hopes to save around $7m per quarter through the redundancies.

News of the job loses came as the company reported net revenues for the second quarter of $117m, down 42 per cent on the $202.2m for Q2 2001.

Juniper's net income for Q2 2002, which includes amortization of purchased intangibles of $1.6 million and a deferred compensation credit of $8.0 million, was $6.2m, compared with a net loss of $37.1m in Q2 2001.

Analysts expected Juniper's revenues to come in at around $110, so its results came as a pleasant surprise to Wall St, which was concerned the knock on effect a reduction in spending from scandal-hit WorldCom might have on Juniper. ®

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