Corvis to Cut 200 Jobs to Save $40 Million
From Bloomberg News
Corvis Corp., a fiber-optic networking equipment maker that has never had a profit, will eliminate about 200 jobs, or 14% of its workforce, to save as much as $40 million annually.
Corvis’ staff will be reduced to about 1,200 employees, the Columbia, Md.-based company said.
Corvis shares rose 7 cents to $1.52 on Nasdaq.
From Bloomberg News
