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Print Edition StoriesTuesday, March 10, 2009
Sonus Networks cuts more jobs
By Mass High Tech staff
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Sonus Networks Inc. has announced plans for more layoffs, this time cutting about 60 positions, about 6 percent of its total work force. The job cuts will occur within the first quarter of 2009.
The layoffs come two months after the Westford communications infrastructure equipment maker cut loose 40 workers, and about three months since Sonus announced the elimination of 50 jobs.
The most recent round of layoffs should cost the company between $1.3 million and $1.6 million in severance costs, but will return about $6 million in annual savings, Sonus (Nasdaq: SONS) officials reported.
In total, restructuring efforts may cost the company between $2.1 million to $2.4 million and save the company around $11 million annually.
Sonus president and CEO Richard Nottenburg reiterated his previous statement in referencing job cuts that the reductions are an attempt to “ensure the business is the right size and aligned with the company’s strategic direction.”
The company reported a net loss of $119 million on total revenue of $313 million for 2008.
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