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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (20692)8/24/2002 8:53:09 AM
From: elmatador  Read Replies (1) | Respond to of 21876
 
By calling <15,000 job cuts "ludicrous> Lu is trying to allay fears of its customers that it no longer will have resources to delivery.



To: sylvester80 who wrote (20692)8/25/2002 3:35:06 AM
From: elmatador  Respond to of 21876
 
LU may not cut 15.000 at once because: "...new job cuts could result in a potential violation of Lucent's loan covenants if it took a large restructuring charge. It would likely need to restructure its loans to allow more cuts..."

As you can see, LU had to deny the reports claiming the 15.000 job cuts due to its fear o violating the loan covenants. But they can restructure the loans to allow the 15.000 job cuts.


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