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Jocelyn Lynds
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Beth Morrissey
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SONUS NETWORKS ANNOUNCES REDUCTION IN WORKFORCE
WESTFORD, Mass., October 4, 2001 - Sonus Networks (Nasdaq: SONS) today announced that as part of its initiatives to align its cost structure with its recently revised business outlook, the Company has reduced its worldwide workforce by approximately 150 personnel.
"It is unfortunate to have to say goodbye to members of the Sonus team. Today's actions are the result of the recent deterioration in the telecommunications market, as well as the culmination of our efforts to integrate the operations of telecom technologies, inc. acquired earlier in the year," said Hassan Ahmed, president and CEO, Sonus Networks. "Our investments to drive the pace of innovation in packet voice and be a good partner to our customers will continue as before, positioning us to further our industry leadership as market conditions improve."
About Sonus Networks
Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus' solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture (OSA) and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams. Its highly scalable products fully interoperate with and extend the life and utility of today's public network. Sonus embodies in its management and staff decades of experience in developing carrier-class voice, data and multimedia solutions for implementation in the world's largest networks. Sonus, founded in 1997, is headquartered in Westford, Massachusetts. Additional information on Sonus is available at http://www.sonusnet.com.
This release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sonus that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to Sonus' Quarterly Report on Form 10-Q, dated August 13, 2001, filed with the SEC, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements. These risk factors include, among others, the Company's ability to grow its customer base, dependence on new product offerings, market acceptance of its products, rapid technological and market change, integration risks relating to the acquisition of telecom technologies and manufacturing and sourcing risks.