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Tellabs to outsource North American manufacturing
Reuters ^
| 08-01-03
Posted on 08/01/2003 8:14:03 AM PDT by Brian S
NEW YORK, Aug 1 (Reuters) -
Telecommunications equipment maker Tellabs Inc. (nasdaq: TLAB - news - people), struggling to return to profitability, on Friday said it would turn over manufacturing of North American products to contract manufacturer Sanmina-SCI Corp. (nasdaq: TLAB - news - people) and cut 325 jobs in the process.
Tellabs, which has logged five consecutive quarters of losses, said that starting in the third quarter, it will begin recording charges of between $90 million and $110 million for the move.
TOPICS: Business/Economy; Extended News
KEYWORDS: outsourcing
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To: Brian S
If is not clear if this is a move offshore or just outsourcing to another US based plant.
21
posted on
08/01/2003 10:31:17 AM PDT
by
evilC
To: Chi-townChief
bump to that
22
posted on
08/01/2003 11:33:20 AM PDT
by
Tauzero
(This was not the sand-people, this was the work of Imperial Storm Troopers: only they are so precise)
To: evilC
Sanmina-SCI is an American facility. There is one close to where I live.
At least we can be grateful that these jobs, at least, remained in this country. Although I am sorry for the 325 at Tellabs who are now out of work.
To: belmont_mark
Not to sound dumb, but could you please explain what you meant?
I'm curious because I live near a Sanmina and I'm wondering if this is good news for them.
To: Brian S
Maybe if I stop by McDs tonight for a Big Mac they will say they outsourced hamburgers.
25
posted on
08/01/2003 4:38:08 PM PDT
by
RightWhale
(Destroy the dark; restore the light)
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