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Alcatel-Lucent to Layoff 5,000

 

Alcatel-Lucent is not a name that many of us know, especially for those of us outside of France. For those of you who are not familiar with the company here is a look for how they choose to describe themselves, “The long-trusted partner of service providers, enterprises, strategic industries and governments around the world, Alcatel-Lucent is a leader in mobile, fixed, IP and Optics technologies, and a pioneer in applications and services. Alcatel-Lucent includes Bell Labs, one of the world’s foremost centres of research and innovation in communications technology. With operations in more than 130 countries and one of the most experienced global services organizations in the industry, Alcatel-Lucent is a local partner with global reach. The Company achieved revenues of Euro 15.3 billion in 2011 and is incorporated in France and headquartered in Paris.”

Well, it looks like the company is getting ready to layoff a significant number of workers. According to estimates about 5,000 people will have to be cut from the operations in order to put the company’s balance sheet to right. Since the company is international, and the idea of layoffs in France are already unpopular with the government, it is unlikely that the company will be laying off in its home nation.

As the company does have a serious stake in Bell Labs, it is possible that the layoffs may come to workers in the USA. If that is the case then it is likely that the company will be making one, or more, mass layoff actions happen. For those of you who are not familiar with the idea of a mass layoff action here is a look at how the federal government defines the term, “The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days.” If that does happen at least workers will have some extra time to adapt to the idea of being without a job, and working on finding a new position.

Despite this grim news the company has put out a statement about its most recent fiscal results. In that release the tone seemed almost optimistic about its fiscal situation, “Alcatel-Lucent (Euronext Paris and NYSE: ALU) today confirmed its second quarter 2012 results and launched The Performance Program to achieve an additional Euro 750 million cost reduction, bringing total savings to Euro 1.25 billion by the end of 2013. Commenting on the results, Ben Verwaayen, CEO Alcatel-Lucent, said: “The second quarter performance confirms our strong positions in many attractive market segments including IP, Next-Generation Optics and Broadband Access, all of which are key investment areas that support our High Leverage Network Strategy.”

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Alcatel-Lucent to Layoff 5,000 by
katie Posted by on July 27, 2012. Filed under Big Layoffs,Layoffs Abroad. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry