Arab Today, arab today alcatellucent to cut 5000 jobs
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Arab Today, arab today
Arab Today, arab today

Alcatel-Lucent to cut 5000 jobs

Arab Today, arab today

Arab Today, arab today Alcatel-Lucent to cut 5000 jobs

Paris - UPI

French telecommunications giant Alcatel-Lucent said it would cut 5,000 jobs as a cost saving measure. The firm said the loss of 5,000 employees out of 72,500 it employs worldwide is part of a restructuring plan intended to save $1.5 billion by the end of 2013, Radio France International reported Friday. The layoffs, plus job cuts announced at Air France and at pharmaceutical firm Sanofi, are a setback for the government of President Francois Hollande, which has promised to increase employment, the report said. Automaker Peugeot-Citroen recently announced it would cut 8,000 jobs. Unemployment is close to 10 percent in France, with nearly 3 million members of the workforce unemployed.

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