Alcatel to cut 6 pct of staff, reduce costs
PARIS, July 26
PARIS, July 26 (Reuters) - Alcatel-Lucent said it would cut 5,000 jobs and seek to exit or restructure unprofitable markets as part of a programme to cut costs by 1.25 billion euros ($1.52 billion) by the end of next year.
The job cuts will affect 6.4 percent of Alcatel-Lucent's 78,000 employees.
Alcatel-Lucent warned on July 17 that it would miss its 2012 profit margin target and pre-announced an adjusted operating loss of 40 million euros on sales above 3.5 billion in the second quarter.
On Thursday, it said that its second-half adjusted operating margin would be better than in the first half. It confirmed its old target of aiming for a "strong positive net cash position at the end of 2012". ($1 = 0.8248 euros) (Reporting by Leila Abboud; Editing by James Regan)
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Ukraine's leaders say have U.S. backing to take on 'aggressors' |
- Obama reassures Japan, other allies on China as Asia trip begins |
- 'Bridgegate' scandal threatens next World Trade Center tower
- UPDATE 4-Children's corpses reveal desperate attempts to escape Korean ferry