Telecommunication equipment maker Alcatel-Lucent says it’s planning to cut some 10,000 jobs worldwide over the next two years as part of a big cost-cutting drive aimed at ensuring an “industrially sustainable future.”
The French-American group says the plan was being presented Tuesday to its European works council. Of the job reductions, 4,100 positions will be in its Europe, Middle East and Africa region, 3,800 are to come in the Asia-Pacific zone and 2,100 in the Americas.
Alcatel said in a statement that its “shift plan” announced in June is aimed at achieving fixed-cost savings of 1 billion euros ($1.36 billion) by the end of 2015. It acknowledged that it “must make difficult decisions” to carry out the plan.
Shares in Alcatel pushed higher in a generally flat market.