5 Companies That Had A Rough Week


Alcatel-Lucent To Lay Off 10,000 Employees

Four months after outlining a "shift plan" to investors and customers, French telecommunications company Alcatel-Lucent announced Tuesday it will lay off 10,000 employees by the end of 2015. These employees will be spread out across Europe, the Middle East and Africa, Asia-Pacific and the Americas.

"We launched the Shift Plan in June to give Alcatel-Lucent an industrially sustainable future," said CEO Michel Combes in a statement. "To carry out this plan we must make difficult decisions and we will make them with open and transparent dialogue with our employees and their representatives. The Shift Plan is about the company regaining control of its destiny."

Alcatel-Lucent hopes to save $1.3 billion by trimming down its workforce.