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23/08/2001
Tellabs lands further blow to Celtic job sector
A manufacturing telecommunications company, which has bases in Drogheda and Shannon, has announced plans to cut 1,000 of its 8,000 worldwide workforce.
Tellabs, a US based multinational which manufactures equipment for the telecommunications industry, will close its plant in Drogheda, County Louth, axing more than 200 jobs.
This is the latest in a series of high profile shutdowns in which almost 2,000 employees have lost their jobs over the past month in flagship companies such as Gateway and Baltimore Technologies in Dublin and General Semiconductor in Cork.
However, jobs at Tellabs’ manufacturing facility in Shannon, which employs more than 450 people in Shannon, County Clare, are not under threat.
The dramatic steps are designed to meet Tellabs’ target of a further five per cent reduction in operating expenses by the fourth quarter of 2001. In total, these and earlier job cuts will reduce operating expenses by about $120 million on an annualised basis.
Richard C. Notebaert, president and chief executive officer of Tellabs, said: “As customers continue to reduce capital spending, we have less work for employees and must take difficult steps to preserve Tellabs' long-term health.
“As we go forward, we are concentrating resources on our customers' highest priorities. The key to Tellabs' long-term success will be to stay relentlessly focused on what customers really need from Tellabs – to enhance our existing products, successfully introduce new products and expand internationally.”
The news was greeted with dismay by politicians in the region. Tánaiste Mary Harney said it was particularly disappointing given the recruitment drive announced last summer.
She is proposing to establish an inter-agency task force and “the main focus now will be to find a new investor and ensure the future employment prospects of those affected”.
Tellabs will now have only one other European operation in Finland, following the Drogheda closure. (AMcE)
Tellabs, a US based multinational which manufactures equipment for the telecommunications industry, will close its plant in Drogheda, County Louth, axing more than 200 jobs.
This is the latest in a series of high profile shutdowns in which almost 2,000 employees have lost their jobs over the past month in flagship companies such as Gateway and Baltimore Technologies in Dublin and General Semiconductor in Cork.
However, jobs at Tellabs’ manufacturing facility in Shannon, which employs more than 450 people in Shannon, County Clare, are not under threat.
The dramatic steps are designed to meet Tellabs’ target of a further five per cent reduction in operating expenses by the fourth quarter of 2001. In total, these and earlier job cuts will reduce operating expenses by about $120 million on an annualised basis.
Richard C. Notebaert, president and chief executive officer of Tellabs, said: “As customers continue to reduce capital spending, we have less work for employees and must take difficult steps to preserve Tellabs' long-term health.
“As we go forward, we are concentrating resources on our customers' highest priorities. The key to Tellabs' long-term success will be to stay relentlessly focused on what customers really need from Tellabs – to enhance our existing products, successfully introduce new products and expand internationally.”
The news was greeted with dismay by politicians in the region. Tánaiste Mary Harney said it was particularly disappointing given the recruitment drive announced last summer.
She is proposing to establish an inter-agency task force and “the main focus now will be to find a new investor and ensure the future employment prospects of those affected”.
Tellabs will now have only one other European operation in Finland, following the Drogheda closure. (AMcE)
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