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Tellabs cuts 370 workers

Tellabs will reduce its worldwide workforce by about 370 employees, the equipment vendor announced today. In addition, the company will close its development center in St. Laurent, Quebec, by mid-2004. Terminated employees will receive at least six weeks of severance pay and outplacement assistance. The company is also reviewing its manufacturing facilities in Finland for possible cost-cutting.

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© 2012 Penton Media Inc.

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