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Lucent issues warning, to cut more jobs

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Murray Hill, N.J.--Lucent Technologies Inc. said Friday it would report a wider-than-expected loss in the fourth quarter, cut 10,000 more jobs, and take $4 billion in charges for severance and a decline in its pension assets. The company, which has posted nine straight quarterly losses, said it expects a fourth-quarter loss of as much as 65 cents a share. On Sept. 13, it forecast a loss of 45 cents per share. Lucent said that by the end of fiscal 2003 it expects to have 35,000 employees. The company employed 106,000 in 2001.
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