Alcatel-Lucent Cuts 4,000 More

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Alcatel-Lucent Cuts 4,000 More

Yesterday I wrote a blog entry titled Alcatel-Lucent May Cut More based on an article from the Financial Times. Today, unfortunately there is a story from the Wall Street Journal saying the recently formed company will cut 4,000 extra jobs and target a further 400 million euros ($577 million) in cost savings as part of a new accelerated restructuring plan.
 
The company also announced that Chief Financial Officer Jean-Pascal Beaufret is leaving the company.
 
The disclosure came as the company reported a third-quarter net loss of 345 million euros, compared with a pro forma net profit of 532 million euros a year earlier.


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