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The company expects to record pre-tax charges of approximately $127,000 in connection with the reduction in force during the third quarter of 2009.
Total cost savings are anticipated to be approximately $1.6 million in 2010. The reductions in force include employees, contract employees and open positions.
Dave Patterson, president and CEO of Optelecom-NKF, said: "Earlier this year the impact of the recession prompted us to implement a number of measures to reduce costs without directly impacting employees. However, it is apparent that we need to identify additional cost savings as the economic downturn continues to affect order flow."
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