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Alcatel-Lucent Message Board

  • stocktradingguy1974 stocktradingguy1974 Nov 2, 2012 9:58 PM Flag

    This is what happens when a company is run by a socialist union sympathizer

    When AlcaLu merged, the plan was to cut 9,000 jobs over a three year period (2006-2009). That would have taken them from 88,000 to 79,000. Today we have 78,000 employees. So, the initial cuts were made, but as soon as Verwaayen came in, there were almost no job cuts. He basically put an end to the major restructuring and decided to protect all the jobs. Had he cut another say 20-25,000 from 2009 to today, there's a good chance AlcaLu would be posting numbers similar to Nokia Siemens, or at least making a profit like Ericsson.

    This is all about a CEO who founded a union in his youth and who never really strayed from his socialist past. He must have been hand picked by the union. And now it's all backfiring. This company is a prime example of everything that's wrong with Europe and why many of its countries are head for third world status. Let's hope Obama doesn't turn America into a union loving socialist "utopia".

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    • #$%$:

      12th December 2008 14:49 GMT

      Recently-installed Alcatel-Lucent boss Ben Verwaayen has wasted little time in swinging the axe - today the firm said 1,000 managers and 5,000 contractors are for the chop.
      February 11, 2009

      Alcatel to cut 1,000 manager jo#$%$

      According to Reuters, CNBC: “Franco-American telecoms gear maker Alcatel-Lucent said it plans to cut 1,000 managerial posts from its global workforce will see 198 positions in France eliminated. Alcatel-Lucent managers in France told a works council meeting on Wednesday that 450 managerial posts would go in North America and 450 in Europe, of which 198 in France, the CFDT union said in a statement.”
      October 2, 2009 -- 06:29 GMT (23:29 PDT)
      Alcatel-Lucent has confirmed plans to cut 200 local contracting and permanent staff, citing the completion of projects and investment uncertainties as the prime motivators for the move.
      that's a from a 2 minute google search....

      and this about his stint at BT:

      A little over a year after his appointment, in April 2002, Verwaayen announced layoffs of 17 percent of the company's workforce over three years as well as the goal of eliminating more than $14 billion in debt over the same time period.
      BT was in poor financial shape in 2002, but under Mr Verwaayen the company has targeted corporate IT and network services, as well as protected its competitive position in traditional telephony. Broadband connections over BT's network have risen from 167,000 in March 2002 to 12.2 million in December.
      Ovum telecoms expert Mike Cansfield said: "His legacy is a company that is in good financial health, well managed, and one that embraces change."
      try reading more and posting less.

    • When faced with Bankruptcy, good ol' Ben will have no choice