Ciena to Trim 650 Jobs Amid Telecom Slowdown

Optical networking company Ciena Corp. said it will cut an additional 650 jobs, or 22% of its work force, amid a slowdown in telecommunications spending. Linthicum, Md.-based Ciena, which has slightly more than 2,900 employees, said the job cuts will help the company return to profitability, although it gave no timetable for that. Ciena President and Chief Executive Gary Smith said the company had to adjust to the weak market. Ciena’s stock rose 5 cents to close at $8.40 in heavy Nasdaq trading.