ASC reorganizes to save money
Citing the continuing decline in the global telecommunications equipment market, Advanced Switching Communications is taking steps to reduce costs.
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Yesterday, the network-access-solutions company announced a 36% work-force reduction to use its funding more efficiently. The announcement is part of the company’s cost-reduction measures that were announced on Oct. 1 to deal with ASC’s revenue deficit. Because of expenses related to the work-force reduction, ASC will take a restructuring charge of about $1 million.
The company will hold a conference call on Oct. 25 to discuss financial results for the third quarter.
--Amalia D. Parthenios, staff writer
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© 2012 Penton Media Inc.
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