Lucent and Alcatel talks said to be near final stage; $34 billion deal seen, maybe next week

Article Abstract:

Alcatel of France is in talks with Lucent Technologies about merging as equals. Shares of both firms have fallen from skepticism over the ramifications of such a merger. Despite the geographical advantages and complementary possibilities of such a deal, there is still concern over the ability of Alcatel to absorb Lucent, with its 90,000 employees, and over the different corporate cultures of the two firms.

Mergers, acquisitions and divestments, Lucent Technologies Inc., LU

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Corning and Alcatel announce large cutbacks

Article Abstract:

Corning and Alcatel announced cutbacks that include layoffs and plant shutdowns. The layoffs total 3,500 employees and coring, in particular, will have to suspend dividend payments. The companies say this move is due to a lot of immobile inventory that will be outdated before it can be sold.

Other Communication and Energy Wire Manufacturing, Nonferrous wiredrawing & insulating, Nonferrous Wire Drawing, Corning Inc., GLW, Layoffs, Electrical wire and cable industry, Electric wire and cable industry, Nonferrous wire, Wire drawing, Layoff

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Nortel will cut work force by 20,000; expected $3.6 billion loss spurs layoffs and sale of businesses

Article Abstract:

Brampton, Ontario-based Nortel Networks Corp. is expecting a third-quarter loss of $3.6 billion and is planning to cut 10,000 jobs through layoffs and another 10,000 through business divestitures. The company had already experienced problems in the beginning of the year with the worldwide slowdown in purchases of communications network equipment. The company's board has also replaced CEO John A. Roth with former CFO Frank A. Dunn.

Canada, Personnel administration, Management, Economic aspects, Appointments, resignations and dismissals, Nortel Networks Corp., NT, Company business management, Corporate reorganizations, Company personnel management, Roth, John, Dunn, Frank A.

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