Lucent, Alcatel to cut 9,000 jobs after merger

Telecom equipment makers Lucent of the United States and Alcatel of France said their merger would result in the loss of about 9,000 jobs. The companies announced in April that the French firm would acquire Lucent to form a global giant worth about 33.0 billion dollars (27.5 billion euros).

Alcatel is about twice as big as Lucent. The agreement creates the second-biggest telecom technology group in the world, but it is only one quarter the size of the biggest US group Cisco Systems which is capitalized at about 133.0 billion dollars.

(2006-07-12 12:28:13 SGT) [Biz] Permalink

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