Tellabs to seek 75 Irish job cuts

Telecommunications equipment firm Tellabs will seek 75 redundancies from its 760-strong Irish workforce, it confirmed today.

The company is one of the Shannon Industrial zone's largest employers and 58 of the redundancies will come from its plant in the region where 760 people are employed.

The remaining job cuts will be sought from its Drogheda plant, which employs 235 staff.

These job cuts follow a decision by the company at the end of March to cut 90 of its temporary staff in Shannon.

They are part of a plan to shed 550 jobs worldwide from its work force of 9,200 due to reduced spending by communications companies.

The Chicago company said its net income for the quarter increased to $123 million, or 29 cents a diluted share, from results of $108 million, or 22 cents a share, in the same period last year.