Harmonic Slips 0.6% on Layoff Announcement
TSC Staff
02/05/01 - 09:30 AM EST
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.
