Lucent issues new options
Article Abstract:
Lucent Technologies Inc has issued new stock options to around 75% of its 65,000 non-union employees in an attempt to retain workers whose present options are worthless. The options were granted to clerical employees and senior executives. The telecommunications equipment manufacturer has sustained a $1.02-billion loss in 1st qtr 2001 and has been affected by slowing US economy, reduced demand for its products, inadequate products and high internal costs. Lucent needs employee support to return to success.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Timing of Lucent CFO's departure shock analysts
Article Abstract:
Lucent Technologies Inc on May 6, 2001 announced that its CFO Deborah Hopkins resigned after only a year on the job and as the firm struggles to solve its financial problems. According to the company, Hopkins' departure is 'not related to strategic disagreements' with Lucent CEO Henry Schacht and Hopkins. However, people familiar with the company's management suspect that personality conflicts between Hopkins and Lucent's senior leadership caused the resignation.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Lucent plans to slash 16,000 jobs, sell plants
Article Abstract:
Lucent Technologies will implement cost-cutting strategies to return to profitable growth. The struggling telecommunications equipment maker has promised to save more than $2 billion annually by trimming 16,000 jobs, selling plants and scrapping unprofitable products. It plans to cut its workforce from 123,000 to around 90,000. After the announcement of its cost-cutting strategy, Lucent's shares went up 4.3% to close at $19.63.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Life insurer IPOs net hefty fees. Clarica results beat street forecasts. Disease cramps Manulife sales in Asia
- Abstracts: Bones of contention. Triumph of the coneheads. A moth in the country
- Abstracts: The Weather Channel's new campaign aims for viewers who aren't climate 'fanatics'. Rain or Shine, Win or Lose, This Ad Is Just for You
- Abstracts: Tech gains translate into fewer secretarial schools. Wary venture capitalists rein in investments. AMD Intel give glimmer of hope
- Abstracts: Novel trend must prove it's got the write stuff. Sound technology turns the way you hear on its ear: Sound that focuses only on you piques interest of marketers, police, others