Alcatel-Lucent to slash 12,500 jobs
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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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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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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut another 7,400 jobs and reduce the value of its assets by $11.4 billion, spurred by its retreat from traditional consumer
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AT&T Corp. T.N will cut about  7,000 jobs and reduce the value of its assets by $11.4 billion  due to its retreat from traditional consumer telephone  services, the company said on Thursday.
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Labor unions at Alcatel-Lucent, the telecommunications equipment maker, agreed to job-reduction plans in France, ending protests that included disruption of the companyâs shareholder meeting in June.
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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.
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Alcatel-Lucent  gave a weak  outlook for 2008 and scrapped its dividend after posting a net  loss of 3.5 billion euros ($5.12 billion) for its first year as  a merged entity.
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Alcatel-Lucent, a global communications giant with combined annual revenue of more than US$24 billion, will debut Friday after a sometimes rocky engagement between Alcatel SA and Lucent Technologies Inc.
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Telecommunications equipment maker Alcatel-Lucent said Friday it swung to a loss in the fourth quarter and increased by 3,500 the number of jobs it plans to cut.
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Citing sluggish sales, communications chip maker Agere Systems today said it will cut 500 jobs and sell or close a plant in Florida that employs 600 people.
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Alcatel-Lucent SA fell nearly 9 percent Thursday after the telecommunications equipment maker slashed its full-year revenue growth forecast and said it expects third-quarter operating profit to be "around break-even."
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Sprint Nextel , the No. 3 U.S.  mobile service, said on Friday it would cut about 4,000 jobs  within the company, close 125 stores and reduce its use of  outsourced services to improve its financial performance.
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Alcatel-Lucent, a telecoms equipment giant valued at 21.5 billion euros (27 billion dollars), began life after the merger of French group Alcatel and its former US rival Lucent.
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Telecoms equipment provider Alcatel-Lucent  could cut up to 20 percent of staff, French weekly l'Expansion reported on Tuesday.
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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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General Motors Europe will slash its workforce by around a fifth, cutting as many as 12,000 jobs in a bid to halt chronic losses in the region, the world&#39;s biggest carmaker said on Thursday.
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Telecoms equipment maker Alcatel-Lucent   lost almost a tenth of its stock market value on Thursday after issuing its third outlook warning this year.