Telecom equipment maker Alcatel-Lucent plans to reduce its staff by 10,000 as part of a cost-cutting drive to save 1 billion euros ($1.4 billion) by 2015.
The job losses, part of its "shift plan" to turn the company's fortunes around, aims to transform the company into a specialist in cloud computing, ultra-broadband access and IP (Internet protocol) networking, Alcatel-Lucent said in a press release.
Michael Combes, the CEO of the French telecoms firm said that the strategic choices that have been made at the firm are validated by customers.
"To carry out this plan we must make difficult decisions and we will make them with open and transparent dialogue with our employees and their representatives. The Shift Plan is about the company regaining control of its destiny," he said in a press release on Tuesday
The company intends to cut 900 net posts in France, or roughly 10 percent of the domestic workforce, as well as closing sites at Rennes and Toulouse, and selling plants at Eu and Ormes.
Cuts would hit all regions, with 4,100 planned in Europe, the Middle East and Africa, 3,800 in Asia, and 2,100 in the Americas.