Hybrid Networks Cuts 15 Jobs
SAN JOSE, Calif. (AP) _ Hybrid Networks Inc., which makes systems needed in wireless Internet access, said Thursday it is cutting 15 jobs, or 22 percent of its work force, as it concentrates more on its next-generation technology.
The company said the cuts would save $500,000 per quarter. In the first nine months of this year, Hybrid lost $10.3 million on $20.3 million in net sales.
Shares of Hybrid fell 10 percent, or 5 cents, to 45 cents on the Nasdaq Stock Market.
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