Alcatel-Lucent to cut 12,500 jobs
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Alcatel-Lucent  on Friday said it would cut some 12,500 jobs over three years as it reported a dip into net loss for the fourth quarter and forecast a drop in first-quarter revenues.
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Franco-American telecommunications equipment maker Alcatel-Lucent on Friday posted a loss of about $3.8 billion for the fourth quarter, said it would scrap its 2007 dividend and predicted a rocky 2008.
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Alcatel-Lucent's revenue fell for the fourth quarter and the company plunged into loss. The performance was disappointing, but theÂ long-term prospects of the mergerÂ of Alcatel and Lucent Technologies remain positive, the company said.
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Alcatel-Lucent, the Franco-American telecommunications equipment maker, posted a loss Friday of about $3.8 billion for the fourth quarter, said it would scrap its 2007 dividend and predicted a rocky 2008.
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Network equipment companies Alcatel SA   and Lucent Technologies Inc.  said on  Thursday they had completed their merger, creating one of the  world's biggest suppliers of network equipment for mobile  phones and high-speed Internet communications.
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Wireless phone company Sprint Nextel Corp. said Friday it plans to slash 4,000 jobs and close 125 retail locations to gird itself for an expected slowdown in subscriber growth and revenue.
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Cingular Wireless will cut about 7,000  jobs, or 10 percent of its work force, to cut costs as it  integrates recently purchased AT&T Wireless, the company said  on Tuesday.
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Telecommunications equipment maker Agere Systems Inc. said Wednesday it will lay off 500 employees, or 7.6 per cent of its workforce, as part of a corporate restructuring.
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General Motors Corp., the world&#39;s biggest carmaker, will cut as many as 12,000 jobs in Europe, almost a fifth of its workforce, after $3 billion in losses in the region in the past four years.
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Alcatel-Lucent will shed 12,500 jobs or 16 percent of staff, more than expected, as a result of its complex transatlantic merger and it sees tough times ahead with another dip in sales in the first quarter.
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France's Alcatel SA completed its $11.6 billion acquisition of Lucent Technologies Inc. on Thursday, creating a new leading global telecom equipment maker, the companies said in a statement.
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Alcatel-Lucent cut its revenue forecast for the year on Thursday, underscoring the challenges the newly merged company faces in a highly competitive communications equipment industry.
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Freshly merged Alcatel-Lucent  is stepping up job cuts to 12,500 after lurching into a fourth quarter loss and forecast a first-quarter sales dip as tough trading and uncertainties from the tie-up take their toll.
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NEW YORK - AT&T Corp. is cutting at least 7,500 more jobs and slashing the book value of its assets by $11.4 billion, drastic moves prompted by the company's plan to retreat from the traditional consumer telephone business following a lost court battle...
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Alcatel-Lucent finished its first full year as a merged company with a net loss of 3.52 billion euros and sales of 17.79 billion euros, a 2.5 percent drop.
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AT&amp;T Corp. is cutting 7,400 more jobs and slashing the book value of its assets by $11.4 billion, drastic moves prompted by the company&#39;s plan to retreat from the traditional consumer telephone business following a lost court battle.
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Newly merged telecommunications equipment maker  Alcatel-Lucent has reported a slump in underlying profits last year and ramped up planned job cuts to 12,500 or 15.6 percent of the workforce.