Alcatel-Lucent to Cut 5,000 Jobs After Reporting Loss - Bloomberg
Heading into his fifth year as CEO, Verwaayen is
accelerating his turnaround bid after thousands of job cuts,
restructuring and asset sales failed to make the company
profitable. Still reeling from the 2006 purchase of Lucent
Technologies Inc. which boosted costs, Alcatel is also coping
with plunging sales to European carriers and price competition
from Asian vendors such as Huawei Technologies Co.
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