DragonWave, a global supplier of packet microwave radio
systems for mobile and access networks, announced it has eliminated 38
positions from its Israeli operations.
The staff reduction, which includes both full time and
contract staff, is intended to align the company’s global sales force with
resources as well as the planned acquisition of NSN’s microwave transport
However, DragonWave will continue to support
R&D, customer support, finance, and operations functions in Israel.
DragonWave expects to save $1.1M in quarterly operating expenses as a result of
this staff reduction.
The company anticipates restructuring charges in the
fourth fiscal quarter as a result of the elimination of these positions to be
approximately $0.3 million, and that there will be a one-time cash usage of
approximately $0.6 million.
Few days ago,
DragonWave announced that it has completed the required consultation process
with Italian trade union representatives for the planned acquisition of Nokia
Siemens Networks’ microwave transport business.