More jobs go at Lucent

Further sales slump takes its toll...

By Kate Hanaghan, 23 April 2002 08:40

NEWS Lucent has turned in its eighth consecutive quarterly loss and a further slump in revenues, forcing it to cut more jobs. Second quarter revenues slipped to $3.5bn from $5.3bn a year ago while losses were $535m. Ten per cent of its staff will lose their jobs reducing the workforce to 50,000 by September. Last year the company implemented its $2.7bn restructuring plan, which saw tens of thousands of people lose their jobs.

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