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PARIS, Oct 18: Telecoms equipment maker Alcatel-Lucent has informed unions that it plans to cut a total of 5,490 jobs worldwide as part of a cost-cutting drive unveiled in response to sliding profits.
The job losses, from a total workforce of 78,000, are designed to help Alcatel trim 1.25 billion euros from its annual costs by the end of 2013, and shares in the company leapt higher in Paris trading on the announcement. The rationalisation was announced in July after the company revealed a second quarter loss of 254m euros. —AFP
