Alcatel Droops as Optical Network Unit Warns of Weak 2002

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French telecom

Alcatel

(ALA)

was down 2.3% after its Alcatel Optics unit warned it expected a weak market for undersea fiber optic cable in 2002.

The company said it was confident the unit would remain profitable.

Last week Alcatel said it was cutting 3,038 positions in its fibre optics and undersea network business, adding to the 14,000 previously announced layoffs.