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Alvarion (Nasdaq:ALVR) will be firing 125 of its 630 employees and shutting down production lines.

The company commented that like many of its peers, it is adjusting to the adverse market conditions.

The cutbacks will be carried out before the company publishes its financial statement for the third quarter in mid-November 2001.

On October 1 Alvarion pre-announced that its third quarter revenues 2001 will drop to $28 million, below the $30 million to $40 million it had expected.

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Alvarion was formed in September by the merger of BreezeCOM and Floware. It develops point-to-multipoint broadband wireless access for phone companies. It provides last-mile Internet access and voice and data services.

Back in July BreezeCOM and Floware each cut 20% of their workforces ahead of the merger, and lowered sales forecasts.