Alcatel-Lucent announced that it intends to cut an additional 3,500 jobs after a poor showing in Q4 with $803 million in losses. The recently merged company already announced that 9,000 jobs would be cut, [1] which brings the total to 12,500 over the next three years. The company has yet to say which jobs would be shed. Cost-cutting measures like the job shedding and revenue enhancements from the merger should increase total merger-related synergies to $2.2 billion, up from the previously predicted $1.8 billion. The news follows yesterday's announcement by Alcatel-Lucent rival Nortel, which said it will shed another 2,900 jobs.
For more on Alcatel-Lucent's job shedding and Q4 results:
- check out this article [2] from the AP
Links:
[1] http://www.fiercewireless.com/story/the-aftermath-of-alcatel-lucent/2006-12-04
[2] http://www.businessweek.com/ap/financialnews/D8N68CA81.htm