Alvarion Ltd. (ALVR), a wireless broadband gear maker, is succumbing to economic pressure, just like many companies in the communications industry.
The Israel-based Alvarion said Monday it’s cutting 11 percent of its jobs – approximately 110 – and reducing executive salaries. The company also will take a one-time charge of about $3 million in the fourth quarter.
“We have not experienced order cancellations or push-outs so far in Q4, but we see lengthening sales cycles, and we remain cautious about the potential effect of the economic climate on WiMAX-related spending decisions as we move through next year,” said Tzvika Friedman, president and CEO of Alvarion, in a prepared statement.
Alvarion is counting on “strong, well-funded operators” to help increase revenue in 2009, Friedman said.
Alvarion joins a growing list of telecom carriers and equipment manufacturers that are slashing jobs as they try to stay afloat in a recession that has no end in sight.
