Lucent 'to axe 2,500 jobs'


26-09-2001

Hi-tech giant Lucent is reported to be shedding 500 jobs in the UK following a consultation period with staff.

The losses account for a fifth of the company's 2,500-strong workforce in the UK.



They come after a big restructuring programme announced in July which included cutting 15-20,000 jobs in a bid to make savings of up to USD 2 billion a year.



Speaking then, CEO Henry Schacht said: 'We are taking a multitude of actions to turn around the business, and we're accelerating our progress.'

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