Business Services Industry
Telecommunications Firm Alcatel Announces Loss for Quarter, Job Cuts in Europe.
Knight Ridder/Tribune Business News, November, 2001
By Vikas Bajaj, The Dallas Morning News Knight Ridder/Tribune Business News
Nov. 1--Alcatel posted a hefty third-quarter loss Wednesday and said it would dismiss another 10,000 workers in Europe.
The French telecommunications equipment maker, which has its U.S. headquarters in Plano, said the job cuts and other cost controls should allow it to become profitable next year.
Alcatel previously announced 23,000 job cuts. No Dallas-area workers will be affected in the latest round. The company employs about 5,500 people in the area, down from 7,000 in January.
Alcatel lost $502 million (44 cents a share) on revenue of $5.1 billion in the third quarter. That was down from a profit of $267 million (23 cents a share) on revenue of $7.1...
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