12/12/2008

In the face of a potential double-digit decline in the market's size, Alcatel-Lucent today disclosed its plans to cut $1 billion within a year in order to reduce its break-even point by $1.33 billion annually in each of the next two years. Alcatel said it would trim an additional 1,000 managers from its payroll and drop 5,000 contractors during its restructuring operation.

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