France implores multinational to cut jobs elsewhere

October 8, 2013
JOBS
Hollande implores firm to cut elsewhere

French President François Hollande implored Alcatel-Lucent on Tuesday to save as many jobs as possible in France after the telecom equipment maker said it plans to cut 10,000 jobs worldwide, about 14 percent of its workforce.

The announcement by the Franco-American group, which plans to eliminate as many as 900 posts in France, was criticized by Hollande’s government, which is battling with record levels of unemployment.

“In the framework of the decisions to be taken, the restructuring plan, it should be examined how the job cuts can be limited as much as possible,” Hollande said in the central town of Saint-Etienne, where he was promoting government efforts to cut unemployment.

Alcatel-Lucent said the job cuts represented its last chance to turn itself around and stem losses.

The product of a 2006 transatlantic merger aimed at creating a global giant, Alcatel-Lucent told a European works council meeting that it intends to axe nearly one in seven of its employees.

— Reuters

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— From staff reports and news services

Coming Today

●●10 a.m.: Wholesale trade.

Earnings: Costco, Family Dollar.

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