Deals
Alcatel-Lucent to Reduce 10,000 Jobs as Losses Mount
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Alcatel-Lucent SA will eliminate 10,000 jobs as Chief Executive Officer Michel Combes accelerates a 1 billion-euro ($1.4 billion) cost-cut plan to revive the unprofitable French network-equipment maker.
The cuts, due by 2015, represent about 14 percent of the workforce worldwide, based on the 72,000 employees the Paris-based company had as of December. About 4,100 jobs will be reduced in Europe, Middle East and Africa, 3,800 in Asia and 2,100 in the Americas, Alcatel-Lucent said today. Sites in the French cities of Toulouse and Rennes will be shuttered.