The poor performance has turned up the heat on CEO Pat Russo. She was asked by the board to provide a turnaround plan in October. Her plan, which was probably no surprise to Lucent fans, was to swing the ax and cut 4,000 more employees.
"This is one more nail in the coffin," says Greenholtz. "But I'm not sure it's the final nail." Alcatel-Lucent shares recently were up a dime to $8.18. Cisco shares were rising 34 cents to $27.79.- Loading Comments...
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