UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Ciena Corporation

 

(Exact Name of Registrant as Specified in Its Charter)

Delaware(State or Other Jurisdiction of Incorporation)

0-21969		23-2725311
(Commission File Number)		(IRS Employer Identification No.)
1201 Winterson Road, Linthicum, MD		21090
(Address of Principal Executive Offices)		(Zip Code)

(410) 865-8500(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

ITEM 2.05 — COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES

On May 12, 2010, Ciena Corporation (“Ciena”) informed employees of its proposal to reorganize and restructure portions of Ciena’s business and operations in the Europe, Middle East and Africa (EMEA) region. These actions are part of a restructuring plan to reduce operating expense, and better align Ciena’s workforce and operating costs with market and business opportunities in EMEA following the completion of Ciena’s acquisition of the optical networking and Carrier Ethernet assets of Nortel’s Metro Ethernet Networks (MEN) business on March 19, 2010. Ciena’s management committed to these restructuring actions on May 11, 2010.

Under the proposed reorganization, Ciena anticipates reductions to its workforce in EMEA of approximately 120 to 140 positions. Reductions are expected to principally affect employees in Ciena’s Global Field Organization and Global Supply Chain organization.

Execution of any specific reorganization or headcount reduction is subject to local legal requirements, including notification and consultation processes with employees and employee representatives. These processes are expected to begin shortly, with a target date for completing implementation of the reorganization by August 31, 2010. Given these requirements, Ciena is unable to reasonably estimate the costs that it expects to incur for severance and termination payments as a result of these intended actions. Ciena will disclose the amount, type and timing of such costs promptly after they have been determined.

This report contains forward-looking statements that are based upon management’s expectations and beliefs concerning future events affecting Ciena. Certain matters contained herein concerning anticipated restructuring activities and strategies to reduce operating expense constitute forward-looking statements and are based upon management’s expectations and beliefs concerning future events affecting Ciena. There can be no assurance that these future events will occur as anticipated or that Ciena’s actual results will be as estimated. For a description of certain factors that could cause Ciena’s future results to differ materially from those expressed in any such forward-looking statements, see Part II, Item 1A of Ciena’s Quarterly Report on Form 10-Q for the quarter ended January 31, 2010 entitled “Risk Factors.”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.