Alcatel-Lucent (ALU) Q2 Revs Drop 7.1% to EUR 3.55B, Reports Op. Loss of EUR 31M; to Cut 5,000 Positions

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:

• 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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