Another multinational high-tech company is cutting its Ottawa workforce.

Volex Canada Inc., a manufacturer of technology cables and systems and a division of UK-based Volex group, will significantly cut its operations in town.

However, a spokesperson added that it is committed to keeping a presence in Ottawa.

Volex's Kanata general manager Rob Taylor told the OBJ that Volex is examining its options in Ottawa and, over the next half year or so, will downsize its local staff to eight from its current 40 employees.

The eight left over will be in sales and engineering, he said.

At one point, the firm had 125 staff occupying more than 25,000 square feet of office and light manufacturing space at its Kanata facilities.

The firm's lease at 1 Brewer Hunt Way is due to expire shortly, though, leading to speculation that a move is in the cards.

However, it will not be outside Ottawa, Mr. Taylor said.

"Ottawa, and specifically Kanata, is home to many of our key customers, and as such Volex will maintain a strong and very long-term presence in the area," said Mr. Taylor.

An investor relations spokesperson from Volex added on Thursday that the company will be issuing a statement "within the next few days."