UTStarcom Will Cut 2,300 Jobs Globally

Alameda, California-based UTStarcom will cut 2,300 positions worldwide, or more than 50% of its global work force, by the end of its fiscal year.

Last month the company reported Q1 losses of $67.4 million. The firm saw a profit in Q1 2008.

UTStarcom will outsource its manufacturing operations, and cut research & development spending.

UTStarcom is a Fortune 1000 company that manufactures IP-based networking products for telecommunications companies and service providers. It has a large customer base in Asia, particularly in China, where it manufactures the majority of its products and where most of its employees are located. It also has business operations in the United States, India, Ireland, France and Japan, as well as research and design operations in the US, China, Korea and India.