Ciena to cut 650 workers

Today Ciena revealed it will cut 650 workers, or 22% of its work force. The move follows the optical vendor’s Feb. 5 announcement that it would trim cut 400 employees.

Ciena expects the changes will reflect an annual cost savings between $145 million and $155 million. In its fiscal second quarter, the company also expects to take a charge of $200 to $225 million, which is primarily attributable to excess long haul transport inventory and purchase commitments with suppliers.

While the February cuts centered on the long-haul transport employees, the cuts announced today involve many manufacturing workers but “go across the board,” according to a Ciena spokesman.

--Liane H. LaBarba, senior editor