The slowdown in capital spending by the nation's cable operators is being felt across the industry, and cable manufacturer CommScope Inc. is feeling the pinch, CED reports.
The company announced Tuesday that it would make a significant reduction in its work force beginning next year.
Specifically, CommScope will lay off close to 200 hourly and salaried employees, or 6 percent to 7 percent of its total work force of 2,800.
Most of the layoffs will affect CommScope's Claremont and Newton, N.C. plants. The vendor said it expects the cuts to be implemented in January.
Even with the layoffs, CommScope will not adjust its guidance for the fourth quarter of 2002. The company currently expects revenue in the $125 million to $135 million range for the quarter.