Facing a cooling cable-gear outlook, Arris is handing out holiday pink slips.
The Duluth, Ga.-based subscriber-equipment provider announced that it has cut more than 300 employees and that it will close its Andover, Mass., facility.
Earlier this month, the company sold a portion of its transmission, optical and outside-plant business to Scientific-Atlanta Inc. for an estimated $37.5 million. The move was aimed at helping Arris to focus on its cable-telephony and data businesses.
"As we indicated in our third-quarter earnings conference call, we were analyzing various ways to improve our cost structure in order to match expense levels to lower revenue levels, while at the same time continuing to improve our balance sheet," executive vice president and chief financial officer Larry Margolis said.
"The closure today of the sale of our Actives business to Scientific-Atlanta and the other closure and force reductions that are currently under way are the necessary steps to achieve that goal," he added.