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Lucent Shakeup Ends in Split of Optical Networking Business.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, August, 2000
Aug. 4--Lucent Technologies Inc. split its optical networking business into two parts yesterday and named newcomers to lead them, as the world's largest communications equipment manufacturer aims to jump-start a business that hasn't met expectations.
The reorganization, coming two weeks after the Murray Hill-based company surprised investors with its second profit warning this year, is the first step in a management shakeup promised by Chief Executive Richard McGinn.
The optical networking unit makes equipment that moves voice and data on pulses of light. Earlier this year, Lucent acknowledged that it failed to anticipate customers' changing buying patterns in the rapidly evolving optical networking field and had lacked the manufacturing capacity to...
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