Scientific-Atlanta to Cut 6% of Staff

Scientific-Atlanta ( SFA) said it will cut 400 staff positions, or about 6% of its total workforce.

The cuts at the Atlanta-based digital cable systems provider will either take place immediately or be carried out within the next few months. Employees working in all of the company's divisions at offices in 70 countries worldwide will be affected. They will receive severance packages and job placement assistance.

Because of the reductions, Scientific-Atlanta hopes to reduce expenses by $40 million annually, starting in the second half of fiscal-year 2003. In the first half of the fiscal year, the company expects to take a one-time pretax charge of about $15 million, or 6 cents a share.

Shares of Scientific-Atlanta were unchanged at $13.41 on the New York Stock Exchange.

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