 Fibre optics maker Bookham is set to cut jobs |
Up to 180 more jobs are facing the axe at fibre optic components maker Bookham Technology as it tries to cut costs. The news came as the firm announced its losses had narrowed from �25m in the first quarter of the year to �18m ($29m) in the last three months.
The hi-tech group said the job losses would leave it with some 1,500 staff by the end of the year.
It added the move would affect its worldwide manufacturing, research and development and support functions.
Job losses
Between 50 and 60 posts are expected to go at the firm's Milton headquarters in Abingdon, Oxfordshire.
In February, the firm axed 200 posts at the site.
Bookham said it would reduce research and development spending and restructure its manufacturing operations in an effort to cut its overhead costs and break-even.
Chief executive Giorgio Anania said: "We are advancing well with our cost reduction plans and are ahead of plan with our restructuring efforts."
The group also announced revenues for the last three months had remained flat in comparison to the first quarter at �21m.
At 1055 GMT, Bookham shares had dipped to 77.5p from an opening price of 80p.
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