Data communications company General DataComm (GDC) has confirmed that it will slash 14 percent of its workforce and sell off its European headquarters in Berkshire.
GDC said the 200 job losses will be part of a massive restructuring plan that will result in a one time charge of $2.5 million against first quarter earnings. Most of the job cuts will be in the US.
The company said it is also seeking to sell its European headquarters in Wokingham, Berkshire, as well as its head office in the US. Strategic partners or buyers are also being sought for its Advanced Research Center in Essex.
GDC designs, develops and manufactures multimedia communications systems, including T1, IDSL and HDSL access hardware, for businesses.
As part of its Millennium Thirty restructuring campaign, the company said it will concentrate on its broadband systems and its Vital network services division.
"Our goal is to create a company with the drive and zeal of an entrepreneurial startup combined with the resources and experience of an established player," said GDC's chief executive Ross Belson in a statement.
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