Ottawa (Nepean), Ontario and San Jose, California - February 27, 2001 - JDS Uniphase Corporation (NASDAQ: JDSU and TSE: JDU) today announced that it will be reducing its global workforce by approximately 3,000 people. The reductions will be concentrated in its passive component manufacturing operations in San Jose, California and Ottawa (Nepean), Ontario. The reductions will be confined primarily to manufacturing operations and reflect opportunities for realignment and improved efficiency as a result of the current business environment.
At the same time, the Company confirmed that it intends to continue to hire for key positions in its high growth product areas, as well as to aggressively support its new product development strategy. The Company said it remains confident about its long-term leadership position in the industry and believes that its ongoing prospects remain very positive.
About JDS Uniphase
JDS Uniphase, headquartered in Nepean, Ontario and San Jose, California, is a high technology company that designs, develops, manufactures and distributes a comprehensive range of products for the growing fiberoptic communications market. These products are deployed by system manufacturers worldwide to develop advanced optical networks for the telecommunications and cable television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. More information on JDS Uniphase is available at www.jdsuniphase.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology, such as "intends" and "believes". Such forward-looking statements include, but are not limited to any statement or implication regarding the Company's current or long-term leadership position in the industry or ongoing prospects, its hiring plans, product development programs, product demand, that the staffing reductions referred to in this press release will result in improved efficiencies, and that the new product development strategy referred to in this press release will result in products that will be successfully completed or result in products that are accepted by our customers. Such forward-looking statements involve risks and uncertainties that, if realized, could materially impair the Company's results of operations, business and financial condition. These risks and uncertainties include, but are not limited to, factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not assume any obligation to update or qualify any of the statements made herein.
Source: JDS Uniphase Corporation