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Politics : Formerly About Applied Materials

AMAT 329.07

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Feb 10 3:59 PM EST

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To: StanX Long who wrote (63948)	5/23/2002 2:51:58 AM
From: StanX Long	Read Replies (1) of 70976

Alcatel Axes 450 U.S. Jobs By Alex Romanelli, Electronic News Online -- Electronic News, 5/22/2002 e-insite.net Alcatel SA has cut 450 jobs from its U.S. operations, nearly 5 percent of its workforce, according to an internal company memo issued Tuesday. A spokesman for Alcatel today confirmed the layoffs and the confidential memo, in which CEO Mike Quigley said the job cuts were necessary to temper the affects of the economic slowdown. The layoffs will take place at Alcatel’s carrier business and not its enterprise business, the spokesman said. This leaves the company with 9,000 employees in the United States. All levels of the organization would be affected by the layoffs, the company said, including vice presidents. "We must continue to adapt our business to market conditions through cost management and restructuring initiatives," Quigley said in the memo. The spokesman said he was unsure how the company would calculate charges against earnings related to the layoffs.

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