Novatel Wireless Cutting Over 75 Jobs In Big Restructuring

San Diego-based wireless modem manufacturer Novatel Wireless announced a big layoff today, as part of a restructuring effort at the company. Novatel said it woul cut approximately 75 to 80 employees as part of the restructuring, which it said would "maximize efficiencies and optimize business operations" at the company. The wireless communications equipment maker said the cuts will save it $10 to $11M annually. Novatel makes a range of wireless communications equipment, which connects PCs and other devices into cell phone data networks. The company is also behind the popular MiFi portable Wi-Fi hotspot.