Shares of Emcore Corp.
rose 2.0% in premarket trading Friday, after the provider of inertial navigation products for the aerospace and defense industries said it cut about 100 jobs as part of a restructuring that includes the shutdown of its broadband business. The job cuts represent about 21% of its workforce, as of Sept. 30. The company said the cuts will be primarily in Alhambra, Calif., where the company is based, and in China.
rose 2.0% in premarket trading Friday, after the provider of inertial navigation products for the aerospace and defense industries said it cut about 100 jobs as part of a restructuring that includes the shutdown of its broadband business. The job cuts represent about 21% of its workforce, as of Sept. 30. The company said the cuts will be primarily in Alhambra, Calif., where the company is based, and in China.