Big Trouble for UTStarcom

Alameda telecommunications firm UTStarcom has faced serious financial problems for some time now, and the company has decided to slash some 500 jobs to cut its losses. According to the Trib, the job cuts, which represent ten percent of UTStarcom’s workforce, is part of an effort to cut $100 million in costs. Also on the block: the company’s Korea-based handset manufacturing unit and its custom solutions business unit. Wiping out so much of its business won’t even result in savings anytime soon, since the logistical cost of reorganizing could run into the millions.

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