("Tellabs To Cut 150 Jobs, Sees $5M-$6M In Pretax Chgs Resulting," published Tuesday at 9:36 a.m. EDT, misidentified the state where the company is based. A corrected version follows.)

Tellabs Inc. (TLAB) plans to lay off about 150 employees, the Naperville, Ill., telecommunications-equipment maker disclosed Monday in a filing with the U.S. Securities and Exchange Commission. The company said the job cuts will "align our costs with customer spending and market conditions" and are the centerpiece of a restructuring from which it expects to record pretax charges of $5 million to $6 million between this year's second quarter and the first quarter of 2010. It estimates cash payments resulting from the restructuring will total $5 million to $6 million from the third quarter of 2009 through the fourth quarter of 2010.

The Chicago Tribune on Tuesday noted that Tellabs announced last October it was cutting 280 jobs, or about 8% of its work force, due to weak sales. Company officials couldn't be reached to comment on the latest layoffs, the newspaper said.

SEC filing: http://www.sec.gov/Archives/edgar/data/317771/000119312509144542/d8k.htm

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