Alcatel-Lucent cuts off 4,000 workers

Alcatel-Lucent boss Pat Russo shuffled the executive deck chairs and axed 4,000 workers today as the networking group lurched into the red for the third quarter.

Russo appointed Hubert de Pesquidoux CFO, announcing Jean-Pascal Beaufret was leaving to pursue other opportunities. De Pesquidoux was previously head of the firm's enterprise group.

Further down the scale, the firm, formed by Alcatel's 2006 takeover of Lucent, is axing 4,000 employees as it tries to cut costs, mainly through an overhaul of its carrier business group. It reckons the brutal cuts will save it about €400m by the end of 2009.

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- Posted: 2007-10-31 10:39:28

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