NEW PROVIDENCE, NJ-Alcatel-Lucent offices here could feel the impact of 10,000 company job cuts announced today in France, but details are scant at this point.
Alcatel-Lucent CEO Michel Combes told the French newspaper "Le Monde" that the telecommunications company is making the cuts as a last-ditch effort to save it. "Everyone knows this plan is the last chance," Combes said.
After the company reported a $1.86 billion loss in 2012, Combest took over in early 2013. His overall plan is to reduce costs by 15% the end of 2015, while still increasing spending on new technologies.
Only about 3,000 Alcatel-Lucent employees – 4% of its workforce – is based in New Jersey, the majority based in Murray Hill, a section of New Providence. The loose break-down on where job cuts would occur provided Tuesday indicated only that there would be a total of 2,100 cuts in North and South America.
More than 4,000 jobs are to be eliminated in Europe, the Middle East and Africa and 3,800 in Asia.
Combes said in a press release that the company will continue “open and transparent dialogue with our employees and representatives" as it implements the cuts.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
