Tellabs announced it will lay off 12% of its workforce in an attempt to regain profitability. It is not known how many the eliminated jobs will be in Naperville.
Tellabs' (NASDAQ:TLAB) stock is trading at a 20 year low. Until December 2011 Tellabs was part of the S&P 500.
According to Yahoo Finance's summary, "Tellabs, Inc. designs, develops, and supports telecommunications networking products for communication service providers in the United States and internationally.
"Its products and services enable customers to deliver wireless and wire line voice, data, and video services to business and residential customers."
In a January 31 press release company CEO Dan Kelly said the company was discontinuing development of the Tellabs 9200 smarter router.
In 2012 Tellabs lost $172 million or 47 cents per share, compared with $188 million or 52 cents per share in 2011. The company competes with Alcatel-Lucent, S.A., Cisco Systems, Inc. and Nokia Siemens in the communications industry.