ECI Telecom (ECIL) plans to reduce its work force by about 400 employees as part of a restructuring move to reduce costs.

The Petah Tikva, Israel, company, which designs and develops digital communications and data transmission systems for the telecom industry, also said its plan to separate into five independently managed companies will take effect Jan. 1.

The company has about 6,100 employees, according to data from Market Guide.

Shares of ECI Telecom closed Thursday at $14.44, close to its 52-week low of $14.13 on the

Nasdaq

. The 52-week high is $39.88.

As originally published, this story contained an error. Please see

Corrections and Clarifications.