Alcatel-Lucent (ALU) Q2 Revs Drop 7.1% to EUR 3.55B, Reports Op. Loss of EUR 31M; to Cut 5,000 Positions
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Alcatel-Lucent (NYSE: ALU) reported Q2 revs of €3.545 billion, down 7.1% from the same period last year.
Adjusted operating loss was (€31) million, with reported net loss of (€254) million.
The telecom is also launching a Performance Program, which will include the following target:
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Adjusted operating loss was (€31) million, with reported net loss of (€254) million.
The telecom is also launching a Performance Program, which will include the following target:
- Costs – reduction target of Euro 1.25 Billion
- People – additional global headcount reduction of around 5,000 people
- Contracts – exiting or restructuring unprofitable Managed Services contracts with associated headcount reduction
- Geographies – exiting or restructuring of unprofitable markets
- Assets – managing our patent portfolio as an independent profit center
- Timeline –completion end 2013
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