Harmonic Slips 0.6% on Layoff Announcement

Harmonic(HLIT Quote) was down 0.6% in preopen Island trading after announcing it would cut 100 jobs, or 10% of its workforce, in a bid to cope with lower spending by some of its customers.

Harmonic, a communications equipment maker, posted a wider-than-expected fourth-quarter loss recently after customers such as AT&T Broadband (T Quote) delayed orders.