VTech Cuts Staff

VTech Holdings Ltd., the biggest maker of cordless phones, said it will fire 16% of its workers and take a $133-million charge to help stem losses at a phone unit it bought from Lucent Technologies Inc. last year. The Hong Kong-based company expects to save $30 million a year in operating costs by cutting 3,000 jobs at plants in Mexico it acquired with Lucent’s fixed-line phone-making business last March. It will cut 1,500 other jobs in China, North America and Europe.