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Nov 15th, 2013
 
Oclaro restructure to cost at least $20M
 
Oclaro’s latest attempt at right-sizing will cost the company between $20 million and $25 million to implement.
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According to a quarterly filing with the US Securities & Exchange Commission (SEC), the photonics component and module maker has already made some minor cuts to its research and development effort in Israel, but that is only a precursor to a much more significant restructuring.

The move follows the recent sale of Oclaro’s Gallium Arsenide (GaAs) laser diode manufacturing operation in Zurich, Switzerland, as well as its optical amplifier and micro-optics business, to II-VI.

A chunk of the proceeds from those sales have already been used to pay off term loans and a credit line, and much of what is left will finance the restructuring. “We intend to further simplify our operating footprint, reduce our cost structure and focus our research and development investment in the optical communications market where we can leverage our core competencies,” wrote Oclaro in the filing.

To read more: http://optics.org/news/4/11/14

 

 
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