Power-One to Cut Jobs, Close Facilities

Power-One Inc., a maker of parts that convert electrical currents for telecommunications equipment, said it plans to eliminate 24% of its work force, or 636 jobs, and close facilities in Mexico and Puerto Rico.

The company’s shares fell 17%, or 72 cents, to $3.43 on Nasdaq.

Camarillo-based Power One said it still expects to meet analysts’ forecasts for a loss of 7 cents a share in the third quarter, with sales of $56 million to $59 million. It cited reduced demand for its equipment used for the Internet and by telecommunications companies for the cuts.

Power-One expects third-quarter pretax costs of about $15 million for job cuts and plant consolidations and asset-impairment costs of $45 million. It also expects pretax costs of about $70 million for obsolete inventory and about $68 million to write down goodwill.