Naperville, Illinois-based Tellabs Inc. said Friday it will cut about 300 jobs after it posted a $23 million loss in the fourth quarter.
CEO Dan Kelly said on a conference call that the company plans to cut expenses, including via the job cuts. The company, which has about 2,600 employees worldwide, would not specify where the job cuts would be.
Tellabs' fourth-quarter revenue was $242 million, compared with $317 million in the year-ago quarter. It also posted a net loss of $23 million, or 6 cents per share, in the fourth quarter, compared with a net loss of $5 million, or 1 cent per share, in the same period in 2011.
Overall, 2012 revenue was $1,05 billion, compared to $1.28 billion in 2011.
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