ALU Will Eliminate 1,000 Positions – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/16370/ALU+Will+Eliminate+1%2C000+Positions+-+Zacks+Tale+of+the+TapePosted on Friday, December 12th, 2008 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Alcatel-Lucent (ALU) declared that it will eliminate 1,000 management positions as global economy languishes.
The telecommunications giant aims to save one billion euros per year in 2009 and 2010. It expects to break even in 2009, and also forecasted an 8% to 12% drop in its market the same year.
For 2009, analysts are looking for a profit of 30 cents. Shares are down approximately 7% this afternoon.
Alcatel is a Zacks #3 Rank (”Hold”) company.
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