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Wednesday, Oct 16
Alcatel-Lucent CEO warns that company is fighting for survival
- Alcatel-Lucent (ALU) "could disappear," CEO Michael Combes said yesterday as he sought to explain the latest in a series of "turnaround" plans that the perennial loss-maker has been enacting since Alcatel merged with Lucent in 2006.
- Under Combes' program, Alcatel-Lucent intends to lay off 10,000 workers, including 900 in France. That has caused protests from French ministers down to the workers, over 1,500 of whom yesterday marched about the issue.
- At least Combes doesn't intend for ALU to leave France, a move that predecessor Ben Verwaayen had considered.
- Shares are -1.6% in Paris.