Electronics Production | May 08, 2006
Cost-cuttings at Bookham
Bookham is planning to reduce overhead costs by $5 million to $6 million per quarter by the end of the year due to increased losses of $48 million in the third quarter.
The weakend results were according to the company CEO Dr. Giorgio Anania “unexpected costs related to closing our Paignton, UK manufacturing facility, lower overall production volumes, and a change in product mix”, said Anania. “In response to the current situation, we are implementing a focused recovery plan, which will involve a number of company-wide cost reduction measures designed to lower our overhead spending by $5m to $6m per quarter by the December quarter of this year”, he added.