Alcatel-Lucent to cut 12,500 jobs

9th February 2007, Comments 0 comments

PARIS, Feb 9, 2007 (AFP) - Newly merged telecommunications equipment maker Alcatel-Lucent, which employs some 79,000 people, plans to cut 12,500 jobs around the world over three years, the company said Friday.

PARIS, Feb 9, 2007 (AFP) - Newly merged telecommunications equipment maker Alcatel-Lucent, which employs some 79,000 people, plans to cut 12,500 jobs around the world over three years, the company said Friday.

The job cuts are intended to save some 1.7 billion euros (2.2 billion dollars) over that time, said a statement from Alcatel-Lucent on their 2006 results.

When announcing their merger in April 2006, the group had initially said it planned to eliminate 9,000 jobs to save 1.4 billion euros.

*sidebar1*The tie-up of the former rivals was expected to create savings notably in administration, logistics, purchasing and research.

Lucent, the equipment-making arm of American Telephone and Telegraph that broke off and became independent in 1996, grew rapidly in the late 1990s until the technology bubble burst in 2002 when it almost went bankrupt.

It survived through thousands of layoffs and drastic budget cuts.

Alcatel was also hard hit by the bursting of the Internet and high-tech bubble.

Copyright AFP

Subject: French news, Alcatel-Lucent

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