Juniper cuts up to 9% of workforce; revises Q2
Juniper Networks cites "a capacity absorption cycle" and difficult service provider and global carrier business for its revised second-quarter outlook.
It also will lay off 8 percent to 9 percent of its workforce and take a one-time charge of up to $45 million.
Juniper now expects revenue in the $200 million to $210 million range, down from the previously expected $300 million to $330 million. Earnings for the quarter, ended June 30, will be about 8 cents to 9 cents a share.
As a result, the company will start cost-cutting measures, including the layoffs and the charge. The changes won't adversely affect its product development efforts, it says.
3Com spokeswoman Kathy Durr could not say where the layoffs would occur. The company is reviewing that across the organization, she adds, and will announce it as it occurs.