Faced with loss of $1.02 billion in first fiscal quarter ending D...
Faced with loss of $1.02 billion in first fiscal quarter ending Dec. 31, Lucent Technologies announced restructuring plan Wed. that called for reducing its cost structure by more than $2 billion, taking up to $1.6 billion in restructuring charges,…
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cutting 10,000 employees through layoffs and attrition. “Our problems are fixable,” Lucent CEO Henry Schacht said. He called fiscal 2001 “a transition year, when we are rebuilding for the future.” Company also plans to eliminate some product lines and outsource more work to contract manufacturers. Lucent had profit of $1.08 billion in same quarter year ago.