Hey Shark & all. I just was poking through the news and came upon this on CBS Marketwatch:
9:28pm 06/05/01 Lucent to shed 5,000 more jobs-FT (LU) By Allen Wan
Lucent Technologies (LU) is finalizing plans to cut its workforce by another 5,000 and tap the markets for capital, the Financial Times reported in its online edition Tuesday. The cuts, which could come as early as this week, represent an attempt by chairman Henry Schacht to breathe life into his turnaround plan for the telecom equipment giant, the report said. Citing a person close to Lucent, the FT said that Lucent was preparing a buy-out, or early-retirement, plan for mid-level managers in the U.S. in the hopes it can slice another 5,000 jobs. This is in addition to already announced plans to lay off 10,000 employees. Lucent couldn't be immediately reached for comment. Shares of Lucent rose 49 cents, or 6.13 percent, to $8.49 on Tuesday.
Comments as to how the markets will view this in the morning, especially after LU's CEO came out today to deliver some good news?
Late edit: personally, I think it's kinda slimy to issue a release like that late in the evening, almost like they're trying to sneak it past the investors. But we're on to them, LOL!!! |
