http://www.marketwatch.com/news/story.asp?guid=%7B2EC02905%2DCB48%2D4182%2D9026%2DB3998C0E4EB6%7D&siteid=mktwSAN FRANCISCO (MarketWatch) - JDS Uniphase said Wednesday it would close two U.S. manufacturing facilities, ship those operations to China and shed more than 700 jobs as part of ongoing restructuring programs.
JDS Uniphase (JDSU: news, chart, profile) also reiterated its previous third-quarter earnings and revenue forecasts.
The optical-networking company said it would consolidate the manufacturing operations of its Ewing, N.J. and Melbourne, Fla. facilities, and transfer those operations to Shenzhen, China. JDS also plans to transfer facilities in Ewing and Mountain Lakes, N.J. to Fabrinet, a company manufacturing partner, and cut manufacturing at its Santa Rosa, Calif. manufacturing facility.
JDS expects all of the facility transfers and reductions to be complete by the end of the year. The company said the moves would cut about 700 regular and 150 support positions from JDS' 6,000 employees.
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