Alcatel Cuts 300 UK Jobs

LONDON -- Alcatel (Paris: CGEP.PA and NYSE: ALA) today announced that it will implement a series of targeted UK cost management initiatives to address the changing dynamics of the telecommunications market, including a reduction in the workforce of up to 300 people. These initiatives are designed to deliver immediate cost efficiencies in Alcatel's UK business and better focus the business on the most profitable segments of the UK telecoms market. Alcatel will initially offer its UK employees the option of voluntary redundancy, but compulsory redundancies are expected. Alcatel employees affected by these staff reductions will be offered a redundancy package and support services. Alcatel SA