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Nov. 1, 2007

Alcatel-Lucent said yesterday it will cut another 4,000 jobs by 2009. The company also announced its third revised profit forecast warning for 2007.

The newly-merged company did release third quarter profits that beat industry expectations.

Yesterday, Alcatel's stock increased about 4.3 percent in early morning trading, on news of the restructuring and its profitable quarter.

Alcatel-Lucent's shares have dropped about 44 percent so far in 2007.

Additionally, the company announced that CFO Jean-Pascal Beaufret will be leaving Alcatel in the next few weeks.

Hubert de Pesquidoux, currently head of the enterprise unit, will replace Beaufret.

After a little more than 29 years with the company, Christian Reinaudo, head of Europe and the North European region also will be leaving Alcatel-Lucent.

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Source: Wireless Week