Ciena ( CIEN) is wielding the ax again as it tries to slash a path to profits.

The Linthicum, Md., optical-networking shop says it will close its Shrewsbury, N.J., facility next month. About 62 people will lose their jobs with the shutdown, and 27 will be moved to other locations, the company says.

"Closing a facility is a difficult decision that affects employees, their families and the surrounding community, but the cost savings that will result make it a necessary step in Ciena's process toward profitability and earnings growth," CEO Gary Smith said in a press release.

Ciena acquired the Monmouth County plant with its 2004 acquisition of gigabit-Ethernet gearmaker Internet Photonics. Closing the facility probably isn't a great reflection on Ciena's efforts to crack the cable TV supply market.

The move was seen by investors as a step toward reversing the company's red-ink flow. Ciena shares rose a dime to $5.18 in midday trading Tuesday.