Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 26 July 2012, French producer of telephone network equipment Alcatel-Lucent announced its intention to cut 5,000 jobs (6.6% of its workforce).
The group reported a substantial loss in the second quarter of the year and saw its sales fall by 7.1%. Alcatel-Lucent CEO Ben Verwaayen stressed the necessity of restructuring due to a decline in demand for network equipment and rising competition. The cuts will be made by the end of 2013 and will affect all sectors except for the R&D department.
Since the merger with Lucent the company has cut around 20,000 jobs.
UPDATE 19/10/2012: The group has announced 5,490 job cuts worldwide, with a large number of job cuts being implemented in France (1,430 job cuts, 15% of the whole workforce in this country). Other EU states will see 3,300 jobs go, while 900 jobs are to be cut in the Asia-Pacific region.
Eurofound (2012), Alcatel-Lucent, Internal restructuring in World, factsheet number 73944, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73944.
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