Tesseract Posted October 11, 2002 Share Posted October 11, 2002 US TELCO LUCENT HAS announced it intends to cut around 10,000 jobs from its already shrunken workforce. In a statement, CEO Patricia Russo said the company intended to return to profitability in "fiscal 2003" and would take "aggressive actions" in order to do so. Lucent's workforce numbered close to 123,000 two years ago. It is thought to employ around 45,000 workers now and is set to cut this figure to around 35,000 by the end of the year. The company indicated it expects a 20 - 25 per cent decline in fourth quarter revenue from the total of $2.95 thousand million last quarter, consistent, it said, with its previous guidance. The company said it will take a restructuring charge of approximately $1 thousand million and announce further details of the job cuts when it released its final quarterly results on October 23rd. Source: The Inquirer Link to comment Share on other sites More sharing options...
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