MORRISVILLE, N.C. — Telecom gear manufacturer Tekelec is cutting some 60 jobs and taking a charge of $3.4 million as part of a restructuring effort.

Tekelec (Nasdaq: TKLC) announced the moves Wednesday after the stock markets had closed.

The moves will save between $8-8.5 million a year, Tekelec said.

The majority of the jobs being lost are at Tekelec’s Switching Solutions Group based in Plano, TX, the company said in a brief statement.

Tekelec described the moves as “part of its ongoing efforts to align its cost structure with the business opportunities in certain business units and operating groups.”

Tekelec shares closed at $11.70 Wednesday, up 47 cents.

Analyst firm Brean Murray initiated coverage of Tekelec earlier in the day Wednesday with a “strong buy” rating.

The cost cutting is the latest move by new Chief Executive Officer Frank Plastina to put his imprint on Tekelec, which recently moved its headquarters from California to Morrisville. Plastina, a former Nortel executive, joined Tekelec in January.

Tekelec recently restated earnings from 2003-2005. The company also took a $51 million charge against earnings in February related to the acquisition of switching firm Taqua in 2004.

In April, the company also sold off its IEX Corp. subsidiary for $200 million.

Earlier this week, Tekelec named Dave Rice, a former Nortel executive, as its new senior vice president of operations.

Tekelec: www.tekelec.com