Scientific-Atlanta to Eliminate 400 Jobs
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Television set-top box maker Scientific-Atlanta Inc. said it would cut its work force by about 400 jobs, or 6%, to help save about $40 million annually.
Most of the reductions are effective immediately, although some will occur over the next several months, the Lawrenceville, Ga., firm said. The positions being eliminated are companywide.
In July, the firm posted a fiscal fourth-quarter loss against a year-ago profit, hurt by charges associated with the bankruptcy of a customer, Adelphia Communications Corp., and weaker shipments of digital set-tops.
Scientific-Atlanta, one of the largest makers of consoles used by cable TV subscribers to receive programming and interactive services, last month cut 1,300 jobs in Mexico, or 16% of its work force.
Scientific-Atlanta rose 49 cents to $13.90 on the NYSE.
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