Alvarion (Nasdaq:ALVR) today announced a 20% workforce cut. The company is letting go 140 people from all divisions.
Alvarion also announced board approval for a $10 million shares buyback.
The dismissals will be implemented immediately as the company strives to reduce expenses by 20% to bring them into line with its current revenue volume.
In October, the company warned that third-quarter revenue will drop to $28 million, from its previous forecast of $30 million to $40 million.
The company, which develops broadband wireless access products, blamed the slowdown in the global communications marketplace. It is due to release results on November 12.