Alcatel-Lucent to cut 10,000 jobs

08 October 2013 |

French equipment vendor Alcatel-Lucent has said it will cut an estimated 10,000 jobs across the globe in a bid reduce its debt.

In a statement ahead of a meeting with its European works council yesterday, the company said it intends to slash 4,100 roles in Europe, the Middle East and Africa, 3,800 in Asia Pacific and 2,100 in the Americas by 2015.

The cuts will see the company lose almost a seventh of its 70,000-strong global workforce.

The move forms part of a strategy to save the debt-induced company €1 billion and following the announcement, shares in the French firm rose 2%.

Michel Combes, chief executive at Alcatel-Lucent, told reporters: “The strategic choices we made have been validated by our customers. To carry out this plan we must make difficult decisions and we will make them with open and transparent dialogue with our employees and their representatives.”

Earlier this year Alcatel-Lucent revealed “The Shift Plan”, designed to reduce its costs and reverse its losses, but job cuts had not been detailed.