Still reeling from a supposedly temporary spending slowdown by AT&T Broadband, cable equipment supplier Antec Corp. sliced 800 workers, about 35% of the company's workforce.
The bulk of the layoffs in plants in El Paso, Texas, and Juarez, Mexico have already occurred and will reduce Antec's workforce from 2,300 to 1,500. Antec has been particularly battered by November's halt in purchases by Antec's biggest customer, AT&T Broadband, which had accounted for more than a third of Antec's sales.
Chief Executive Bob Stanzione firmly insisted that the spending slowdown by its cable customers is temprary. "The demand for bandwidth is there," Stanzione said.
- John Higgins