Corning to Slash Jobs in Optical-Fiber Unit
Corning Inc., stung by a slowdown in the telecommunications industry, is cutting about 900 jobs in its optical-fiber cable division on top of the 5,900 jobs it cut in various divisions earlier this year.
The company said 450 jobs will be eliminated immediately at Corning Cable Systems plants in North Carolina, Texas and Missouri as well as in Mexico, Puerto Rico and the Dominican Republic.
A similar number of workers at those plants also agreed to accept separation deals the company offered this month.
Corning fell 38 cents to $14.92 on the NYSE.
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