ALCATEL-LUCENT LAYOFF JOB CUT: 6000 employees to be fired in next two years

Alcatel-Lucent Job Layoff
Alcatel-Lucent, a French-American telecommunications equipment giant has announced that it will layoff about 6000 employees. Of these 6000 jobs to be cut, 1000 are management jobs and remaining 5,000 are contractors. The job layoffs will take place in the next two years.

Alcatel-Lucent layoffReasons for Alcatel-lucent Job Layoffs
Alcatel Lucent has reported huge losses of 3.9 billion euros of $5 billion due to write downs on the value of its assets. It has made a net loss of 5.22 billion euros or $6.7 billion. The company has been struggling since the French company Alcatel bought US-based Lucent Technologies in 2006 and the above job cut brings the total number of job layoffs by Alcatel Lucent to 22,500 since 2006.

source: BBC, Nytimes.

Feb 5, 2009

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