Alcatel Lucent’s turn to layoff 1000 employees

Alcatel Lucent is cutting out a 1000 worker out its 75,000 plus workforce and culling some 5,000 contractors, a move that it hopes will stop them from losing too much cash- a problem which had affected them since Alcatel's purchase of Lucent in 2006. The embattled CEO already stepped down earlier this year in a quest for profitability.
Source: Engadget Mobile