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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.
Last year it swung to a net loss of 1.2 billion euros - the biggest since 2008 - largely because of a writedown on its mobile unit and restructuring costs from an earlier plan to lay off 5,000 workers.
Combes, who used to run telecom giant Vodafone's European businesses, is the third CEO to try to right Alcatel. He said in June when announcing his turnaround plan, which also calls for 1 billion euros of unspecified asset sales by 2015, that the group needed to bring its cost structure in line with peers.
The layoff plan is the latest in a series at Alcatel-Lucent. In autumn 2012, it announced moves to trim 5,000 workers from its base of 76,000 at the time, with the heaviest burden falling in France.