CALIENT NETWORKS CUTS 60 WORKERS,
SLOWS DOWN TO LET MARKET CATCH UP

June 21, 2001 — Calient Networks Inc., recently rated one of the top start-up companies of the year, is laying off 60 of its 269 employees.

The San Jose, Calif.-based developer of photonic switching systems and software is cutting jobs at its headquarters, as well as its MEMS design and production facility in Ithaca, N.Y., and its engineering and manufacturing operations in Santa Barbara, Calif., said a company spokeswoman who asked not to be identified.

She said Calient found it had grown too quickly during the runaway market growth in the industry during the past 18 months. She said the company is now getting back to staffing at the pace the market demands.

The company raised $225 million in financing last year, but unforeseen “challenges” have delayed development of its advanced optical switch and the process has been costly, Calient chief Charles Corbalis told Light Reading, a Web site devoted to optical networking.

Corbalis said that several customers are waiting to test Calient’s switch, but no revenue will come in during the nine to 12 months that this process is expected to take, he said.

The spokeswoman said no further layoffs are expected.

Earlier this month, the company was selected by America’s Network magazine as of the hottest start-up companies in 2001. Calient also was placed on the hot-100 list of Upside magazine in the optical networking category.

— Jeff Karoub, Small Times Staff Writer

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