Avici to Slash 45% of Workforce
Stephen Lawson writes on InfoWorld:
Avici Systems Inc., a maker of large routers for service providers, will cut 45 percent of its workforce and focus on a few core features in a bid to achieve a profit.
Layoffs and other cost-cutting will start immediately and continue over the next several months, the North Billerica, Massachusetts, company announced on Thursday. Both full-time employees and contractors will be cut from a workforce that totaled about 300 at the end of last year, President and Chief Executive Officer William Leighton said on a conference call Thursday.