DragonWave cuts 33 percent jobs, amends deal with Nokia Siemens

(Reuters) - Telecom network equipment maker DragonWave Inc said it cut 33 percent of its senior management jobs and amended its deal with Nokia Siemens Networks to reduce operating costs. Cash-strapped DragonWave, which has been trying to reduce costs since it acquired Nokia Siemens's microwave technology business last June, said last month that it would cut costs further but did not specify what the measures were. The company cut 116 jobs in Ottawa and Israel in 2012. According to the renewed deal, Nokia Siemens will make an immediate cash payment of $13. ...



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