Alcatel-Lucent Said to Reduce Staff by 10K

Your next video will start in

Recommended Videos

  • Info

  • Comments


Oct. 8 (Bloomberg) –- Bloomberg’s David Tweed reports on the restructuring of Alcatel-Lucent and the cost-cutting measures being pushed by its chief executive. He speaks with Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

He's in berlin.

I am looking at the background.

The chief executive became chief executive at the beginning of april, and in june or july he announced a massive restructuring of alcatel-lucent, which is already gone through restructuring, but that did not really take hold.

This time around he promised to cut $1 billion of assets and also to cut costs by one billion euros.

I would think most of the workers would be braced to see big job cuts.

These represent something like 14% of the workforce.

The other thing to look at is what is going on with the share price.

It looks like some investors are coming in setting he is going to be able to turn the company around this time -- betting he is going to be able to turn the company around this time.

Since the beginning of the year yields have nearly tripled.

To put this into context, alcatel-lucent got together in 2006, so there is quite a lot of ground to clawback.

It looks like the investment community is behind them.

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change