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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (1552)	10/31/2001 8:33:18 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 10065

As the litany-of-layoffs continue...Alcatel: quote.bloomberg.com Excerpt on telecom: "..The phone-equipment market expanded in the late 1990s as investors speculated that new companies would successfully challenge the former national phone monopolies. Since then, Alcatel and rivals such as Lucent and Ericsson AB have seen orders dwindle as the economy cooled and companies including France Telecom focused on reducing debt. Plunging stock prices and mounting debt made it harder for smaller companies to raise money to expand networks. Rush to Cut That's led to widening losses at equipment makers and a rush to cut costs. Lucent is slashing 49,500 jobs, Motorola Inc. 39,000, Ericsson 22,000 and Nortel Networks Corp. more than half the 94,500 workers it had at the start of the year. The U.S. telecommunications market has dropped 30 percent this year, Tchuruk said, with U.S. phone companies cutting capital expenditures by 15 percent to 20 percent...."