"We're moving ahead with those plans," Richard Williams, director of public relations for Sycamore, tells GolbeSt.com. "But we're slowing down the pace."
Sycamore is dealing with the same reduction in demand for telecommunications equipment with which companies such as Lucent Technologies and Nortel have to contend. According to a released statement, lower than expected customer orders are responsible for lower than previously projected revenues and earnings for the fiscal third quarter.
The layoffs and delaying the facility expansion are part of a company plan to restructure its operations and lower its overall cost structure. In addition, Sycamore plans to consolidate two transport business units into a single entity and do inventory and cost assets write-downs.
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