"PerkinElmer Inc., citing weakness at its telecommunications and specialty-lighting business, lowered its first-quarter and full-year earnings guidance and announced plans to cut about 500 jobs across the company."
Read a little further in the Perkin-Elmer press release, specifically:
"Due to the significantly reduced volume in Optoelectronics, coupled with lower than anticipated growth in LIFE SCIENCES AND ANALYTICAL INSTRUMENTS end markets, the company announced plans to take an additional restructuring charge of approximately $10-$15 million to further enhance its cost position and will reduce its workforce by approximately 500 employees from across the corporation."
There was also some bad news from Invitrogen last night. Here's a link from Bloomberg that explains in more detail: