UTStarcom to slash 2,300 jobs

UTStarcom confirmed it plans to cut at least half of its workforce--2,300 jobs--as it looks to restructure and cut costs. the company has taken several measure in the past few years to reduce costs, even as it has won key positions in several IPTV deployments in Asia. Light Reading Asia reports UTStarcom also will "streamline its sales operations, reduce support for older product lines, and outsource its manufacturing by the end of 2009."

Broadband access and IPTV products will continue to play a major role for the company. In 2008, UTStarcom reported revenue of about $634 million, well off its 2006 mark of $2.6 billion. Its tumble began before the worldwide economy started slumping.

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Light Reading Asia has this report [1]