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Agere cuts 950 more jobs

Optical components maker Agere Systems announced Wednesday that it plans to cut an additional 950 jobs on top of the 6,000 job cuts announced in June and April. The move follows the company's plan to restructure its business in reaction to worsening demand for communication chips. The extra cuts will mostly affect workers in New Jersey and Pennsylvania in the areas of product management, worldwide sales and corporate support positions. The total work force will slim to 11,300 people, down about 39 percent from April. Agere plans plant closures, a corporate reorganization, asset charges and job cuts to lower costs from $900 million to a break-even point at $700 million per quarter. The company, a former unit of Lucent Technologies, expects to complete Wednesday's announced layoffs over the next several months and the previously announced layoffs in December.

Optical components maker Agere Systems announced Wednesday that it plans to cut an additional 950 jobs on top of the 6,000 job cuts announced in June and April. The move follows the company's plan to restructure its business in reaction to worsening demand for communication chips. The extra cuts will mostly affect workers in New Jersey and Pennsylvania in the areas of product management, worldwide sales and corporate support positions. The total work force will slim to 11,300 people, down about 39 percent from April.

Agere plans plant closures, a corporate reorganization, asset charges and job cuts to lower costs from $900 million to a break-even point at $700 million per quarter. The company, a former unit of Lucent Technologies, expects to complete Wednesday's announced layoffs over the next several months and the previously announced layoffs in December.