Monday, March 9, 2009

Sonus Networks Announces another 60 Layoffs

Sonus Networks announced additional plans to reduce its workforce by approximately 60 people, or 6% of employees worldwide. The company expects to incur restructuring charges for severance and related costs of approximately $1.3 million to $1.6 million on a pre-tax basis in the first quarter of fiscal 2009 in connection with this action and anticipates annual compensation-related cash savings of approximately $5.8 million to $6.3 million as a result of this restructuring initiative.


This action brings the total expected restructuring charges for severance and related costs to approximately $2.1 million to $2.4 million on a pre-tax basis for both restructuring actions taken during the first quarter of 2009. http://www.sonusnet.com

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