Business Services Industry
Lucent's Layoff News Goes from Bad to Worse.
Knight Ridder/Tribune Business News, July, 2001
By Dan Egbert, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Jul. 25--After more than a year of deteriorating performance and deepening troubles for the telecommunications industry, Lucent Technologies disclosed more devastating fallout for the company: plans to slash its payroll by an additional 15,000 to 20,000 employees.
The cuts, along with other restructuring efforts, will cost the company as much as $9 billion, and raise the toll of laid-off or spun-off workers to 49,500, nearly half the troubled telecom-equipment maker's current work ...
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