Endwave Corp., a maker of gear for wireless voice and data networks, said it will eliminate about 100 jobs, or 30% of its work force, and close its Los Angeles design facility to cut costs.
The reductions will cost $3 million to $5 million in the first quarter and save the company about $7 million a year, Endwave said.
Sunnyvale, Calif.-based Endwave expects a first-quarter loss, excluding restructuring costs, of 26 to 28 cents a share on revenue of $4 million to $5 million. The company expects revenue of $25 million to $28 million in 2002. Officials weren't available to comment.
Endwave shares fell 2 cents to 84 cents on Nasdaq. They have fallen 26% year to date.