Alcatel Lucent SA Launches The Shift Plan to Focus on IP Networking and Ultra-Broadband Access
Alcatel Lucent SA announced 'The Shift Plan', a three-year plan to reposition the Company as a specialist provider of IP Networking and Ultra-Broadband Access. The key components of The Shift Plan include: a refocusing of the Group's R&D spending on IP Networking and Ultra-Broadband Access with an increased emphasis on co-development with customers and partners, while at the same time reducing spend on legacy technologies; EUR 1 billion in targeted reductions in the Group's fixed cost structure concentrated on actions to reduce sales, general and administrative (SG&A) expenses, refocus R&D and improve operational efficiencies; selective asset sales intended to generate at least EUR 1 billion over the period of the plan; aiming at reprofiling the Group's debt (EUR 2 billion) and, once the Company has executed The Shift Plan, a future reduction in debt (EUR 2 billion).
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