Lumentum announced a new round of job cuts and shifted production to Thailand

Source: Semiconductor core
    Recently, there is news that Lumentum, the world‘s leading optical manufacturer, recently announced a new round of layoffs. In December, Lumentum shut down two NeoPhotonics plants in China. At the same time, Lumentum is investing in a state-of-the-art production line at its manufacturing facility in Thailand and is expected to launch the first wave of 1.6T transceivers for multiple customers in ‘24.
    In early February, Lumentum Holdings Inc. (Lumentum) announced its financial results for the second quarter of fiscal year 2024 ended December 30, 2023: revenue of $367 million, up 15.5% sequentially and down 27.5% year-over-year; GAAP net loss of $99.1 million compared to a net loss of $67.9 million last quarter and a net loss of $31.7 million in the same quarter last year.
    Alan Lowe, President and CEO of Lumentum, said: "Lumentum is at the forefront of photonics innovation, partnering with customers to realize the future of data centers and the networks that connect them. Given the surge in bandwidth demand for AI data centers and strong customer interest in our new transceivers, we are strategically expanding our leading-edge transceiver manufacturing capabilities. As a key part of this expansion, we are investing in state-of-the-art production lines at our manufacturing facility in Thailand. The facility has proven optoelectronic manufacturing capabilities and has received numerous customer accolades, which gives us confidence in our ability to rapidly expand production. We will ramp up production this summer and expect to launch the first wave of 1.6T transceivers at the site for multiple customers."
    Lumentum is a world-renowned optical component supplier headquartered in California, USA. Lumentum delivers disruptive innovations in photonics, enabling groundbreaking technological advances that revolutionize the way the world connects, creates and interacts. Lumentum was formerly JDSU‘s Communications and Commercial Optical Products ("CCOP") business unit, Lumentum Holdings Inc., on August 3, 2015. It was spun off from JDSU and began operations as an independent public company on August 1, 2015. Lumentum currently has a total market capitalization of about $3.34 billion.