Corning Adds to Job Cuts:

Fiber-optics maker Corning Inc. is eliminating 1,000 jobs on top of 3,300 already targeted in recent weeks as it scrambles to rebound from a slump in telecommunications markets. Overall, the work force cuts account for 11% of Corning’s payroll of 40,000. The latest cutbacks were announced as the Corning, N.Y.-based company reported a first-quarter net profit, excluding charges, of $277 million, or 29 cents a share, up from $188 million, or 23 cents, a year ago. That narrowly beat Wall Street analysts’ expectations of 28 cents. Sales rose 42% to $1.92 billion.