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February 5, 2008 |
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ALCATEL-LUCENT SA: Extended Restructuring Sees 400 Job Cuts Alcatel-Lucent S.A. presented to its social partners an extension of the voluntary-based restructuring program, which was initiated in 2007. The extension is part of the global cost reduction program announced on Oct. 31, 2007 designed to align the company's resources to the realities of the telecom industry's difficult environment. This extension could result in the loss of some 400 positions, all of which will be done on a voluntary basis. The plan does not call for the closing of any Alcatel-Lucent locations in France. France remains one of the major research locations for Alcatel- Lucent for next-generation advanced technologies, with notably a strengthening of teams for the development of 4G mobile networks and WiMAX. Alcatel-Lucent has research activities in the Paris metropolitan area, as well as in Brittany and Alsace, and is a leading player of the French competitiveness clusters initiative. France also hosts one of the main Bell Labs research centers in Villarceaux, located in the Paris metropolitan area. About Alcatel-Lucent Headquartered in Paris, France, Alcatel-Lucent S.A. -- http://www.alcatel-lucent.com/ -- provides solutions that enable service providers, enterprises and governments worldwide to deliver voice, data and video communication services to end users. Alcatel-Lucent maintains operations in 130 countries, including, Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada, United States, Costa Rica, Dominican Republic, El Salvador, Guatemala, Peru, Venezuela, Indonesia, Australia, Brunei and Cambodia. * * * As reported in the TCR-Europe Nov. 9, 2007, Moody's Investors Service downgraded to Ba3 from Ba2 the Corporate Family Rating of Alcatel-Lucent. The ratings for senior debt of the group were equally lowered to Ba3 from Ba2 and the trust preferred notes of Lucent Technologies Capital Trust I have been downgraded to B2 from B1. At the same time, Moody's affirmed its Not-Prime rating for short-term debt of Alcatel-Lucent. Moody's said the outlook for the ratings is stable. Alcatel-Lucent's Long-Term Corporate Credit rating and Senior Unsecured Debt carry Standard & Poor's Ratings Services' BB rating. Its Short-Term Corporate Credit rating stands at B. |
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