San Jose, Calif. -- Looking to return to profitability, San Jose-based Veraz Networks, a developer of application, control and bandwidth optimization products, said on Thursday that it has cut 160 jobs, or about 35% of its workforce. The company, which said that the move will "significantly" lower its break-even point, will be left with about 300 employees. "While these workforce reductions are difficult for all involved, today's actions are necessary in light of the challenging business environment," said Doug Sabella, the president and CEO of Veraz. "We believe that these restructuring initiatives will allow us to return to profitability while taking advantage of growth opportunities." The company will take a restructuring charge of $1.2-$1.5 million as a result of the cuts. Veraz is expected to report its quarterly results on Aug. 6. Earlier this month, the company said that it expects to record revenue of $15-$17 million, about half as much as a year ago.
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