ADC slashes outlook; will sell unit, cut jobs

ADC Telecommunications announced late yesterday that it is revising its fiscal 2008 revenue outlook downward to between $1.47 billion and $1.495 billion, from the previously-stated expectation of between $1.5 billion and $1.52 billion. The network equipment vendor is now looking to sell its European professional services business unit, which could find some takers among larger vendors now consumed with services-focused business strategies.

ADC also said it will cut up to 350 jobs worldwide, including up to 190 in its home state of Minnesota. There were also some reports that the company may exit other unprofitable market segments.

For more:
The Minneapolis-St. Paul Business Journal reports

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