Wednesday, October 30, 2002

Corning cutting 2,200 jobs, closing two fiber-optic plants Corning Inc. is closing optical-fiber plants in Australia and Germany and cutting an extra 2,200 jobs, or 8.5 percent of its global payroll, as it scrambles to rebound from an alarming slowdown in the telecommunications industry. The overhaul was announced Wednesday as the world's biggest maker of optical fiber and cable posted a third-quarter loss of $260 million, or 25 cents a share, compared with a loss of $220 million, or 24 cents a share, in last year's third quarter. It was the sixth quarterly loss in a row for Corning, which also warned of continuing weakness in the fourth quarter in the optical fiber and cable business. 12:36:54 PM  Google It!  comment  []

"Do pleasant things yourself, but unpleasant things through others." --Baltasar Gracian 12:14:54 PM    comment  []

"Never make a defense or an apology until you are accused." --King Charles I, of England "Don't apologize. Don't explain." --jrr 12:13:46 PM    comment  []

"Observe your enemies, for they first find out your faults." --Antisthenes 12:12:37 PM    comment  []

"Everyone is a prisoner of his own experiences. No one can eliminate prejudices - just recognize them." --Edward R. Murrow (1908 - 1965), television broadcast, December 31, 1955 12:11:07 PM    comment  []

"One of the lessons of history is that nothing is often a good thing to do and always a clever thing to say." --Will Durant (1885 - 1981) 12:09:04 PM    comment  []