Create an Account
username: password:
 
  MemeStreams Logo

MemeStreams Discussion

search


This page contains all of the posts and discussion on MemeStreams referencing the following web page: Lucent: More Losses, Another 7,000 Job Cuts. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

Lucent: More Losses, Another 7,000 Job Cuts
by Jeremy at 6:28 am EDT, Jul 24, 2002

Lucent announced a $7.91B loss for the fiscal third quarter and 7,000 more layoffs yesterday, adding another chapter to the seemingly unending tale of the telecommunications industry's woes.

Scott Cleland: "It's bad, and there's no cavalry coming."

Nortel believed its market had bottomed out and its fortunes would soon turn up. CEO Patricia Russo: "Like many others, we were wrong."

Shares of Lucent dropped by more than 21% on the news.


 
 
Powered By Industrial Memetics