Alcatel-Lucent cut 4,000 jobs

French-American communications company, Alcatel-Lucent, will cut its staff by 4,000 by 2009 in an effort to save €400m.

The company’s Q3 losses prompted the job cuts as it continues to struggle. Alcatel-Lucent saw an 8 percent decrease compared to last year’s Q3 figures. The announcement follows February’s employee cutbacks of 12,500 staff. While 70 Irish employees were let go in February, the company is unsure about whether current cutbacks will affect the remaining 320 Irish employees.

Alcatel-Lucent also announced several decisions it has made with regard to internal restructuring. CEO Patricia Russo appointed Hubert de Pesquidoux Chief Financial Officer, along with the announcement that the current CFO Jean-Pascal Beaufret was leaving to “pursue other opportunities”. De Pesquidoux was previously head of the firm’s enterprise group.

Russo has also put together a seven person management team who she said will oversee the running of the company and report directly to her.

Shares in the merged company have suffered a 39 percent drop so far this year.