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San Jose, Calif.-Based JDS Uniphase Reports Largest Loss in History.
Byline: Barnaby J. Feder
Jul. 28--JDS Uniphase, a leading manufacturer of components for telecommunications networks, on Thursday reported the largest loss in business history, most of it attributed to a $44.8 billion write-off of the value of companies it acquired during two years of rapid growth.
In addition to the dramatic accounting adjustment, which JDS had warned investors to expect several months ago, the company also reported that business had slowed even more than previously projected. JDS said that it would lay off 7,000 more workers in addition to the 9,000 already laid off this year, and that its advice to Wall Street on June 14 that it would …
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