Avici to Cut 40 Jobs, Sees Flat Markets in First Half

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Internet router maker

Avici Systems

(AVCI)

said it cut its workforce by another 12%, slashing 40 jobs in an attempt to lower company expenses.

The company said the new round of cuts will help save cash and push the company towards profitability. Avici also said it expects the market for its products to remain flat through the first half of 2002.

Shares of Avici Systems closed up 1.1% to $2.85 Friday on the Nasdaq.