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Alcatel-Lucent (ALU) posts its first net loss in five quarters, of €254M. Announces plans...

Alcatel-Lucent (ALU) posts its first net loss in five quarters, of €254M. Announces plans to cut 5,000 jobs, ~6% of its staff, as part of a plan to save an additional €750M; "we must embark on a more aggressive transformation." Sales -7.1% Y/Y to €3.5B; analysts point to European carriers cutting spending and competition from Asian rivals weighing on prices. Shares -7.3% in Paris. (PR)
Comments (1)
  • julianncion
    , contributor
    Comments (11) | Send Message
     
    Boy, am I ever sorry I followed the advise to buy ALU stock - lost 80%!
    1 Aug 2012, 08:51 PM Reply Like
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