Lisle, Illinois-based Tellabs had planned to consolidate its operations that are now located in Bedford and Burlington under one roof here. The company had also planned to more than double the number of its employees in this state to 300 over the next five years. There are currently 140 employees of Tellabs in this state and reportedly eight will lose their jobs in this latest wave of layoffs. There are no plans to hire additional employees at this time.
Tellabs is in the process of constructing its two office buildings here but plans to sublease the buildings when construction is completed later this year. The company also has offices in Cambridge, and Wilmington. In a released statement, the company states that it also plans to close a plant in Drogheda, Ireland and take a $50 million charge in the third quarter.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
