The Digital Source For China's Tech Innovation Since 2000

Search
Close

UTStarcom Reduces Staff To Save Costs

October 12, 2007
Business

UTStarcom (UTSI) has announced plans to cut 700 staff, accounting for 11% of the company's total, mainly in China and the United States as part of the company's reorganization efforts.

According to a document filed with the U.S. Securities and Exchange Commission, UTStarcom will record US$10 million as regrouping expenditure in its fourth quarter report and this staff cutting will help the company save about $21 million in payments and bonuses each year.

UTStarcom announced earlier in September that it would try its best to cut the operational costs of each quarter by $10 million-$15 million.

UTStarcom also says that due to the financial problem in China, it will re-file its financial report for the past years.

Tags: accounting | China | commission | finance | financial | financial report | IT | report | Securities and Exchange Commission | staff | Total | U.S. | United States | UTSI | UTStarcom

Other Related News:

Baidu Posts Quarterly Search Engine Revenue Increase

February 15, 2007

Electronic Money Order Service Launched

April 8, 2005

r/technology US overtakes China as biggest bitcoin mining hub after Beijing ban

October 14, 2021

Hong Kong on Covid Tracing App: Security Flaws? What Security Flaws?

July 29, 2022

1,241,853 Shares in KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Purchased by OLD Mission Capital LLC

February 2, 2022

Attempts to throttle Chinese tech are self-defeating mind game: editorial Opinion

December 28, 2021

China Presses For International Management Of Internet Resources

February 25, 2005

China’s Digital Yuan to Face International Users at Beijing Winter Olympics

January 28, 2022

Robots making cocktails, coffee, even food at Beijing Olympics

February 2, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....