Inovia Telecoms, a member of the ECI Telecom (Nasdaq:ECIL) (ECIL) group, yesterday began layoffs of 40 of its workers, TheMarker has learned.
The company, which provides xDSL systems for broadband communication on existing copper telephony wires, has 600 workers. The streamlining efforts at ECI, which meant the layoffs of more than 1,500 workers, did not skip Inovia, which fired many of its workers in the last 12 months.
The company's comment was not available prior to publication of the news.
Inovia recently announced it was chosen by France Telecom to supply xDSL solutions for another three years. Q3 results posted in November 2001 surprised many in the sector. Sales by the division rose to $92.3 million from $76.9 million in the second quarter. Its operating losses on the other hand shrank from $18.2 million to $13.7 million.