PARIS — Alcatel-Lucent, struggling since the deal that formed the company, disclosed plans Wednesday to slash an additional 4,000 jobs and shake up top management as the telecom equipment maker reported a third straight quarterly loss.
Chief Executive Patricia Russo, under pressure to produce better results, said business levels were below expectations. Annual revenue probably will be nearly flat, the company said.
The much-anticipated new plans include a slimmer management, a streamlined core carrier division and a focus on higher-margin areas.
The French-American company's chief financial officer, Jean-Pascal Beaufret, also will step down.
Alcatel-Lucent said the latest restructuring was designed to save an additional 400 million euros ($578 million) by 2009. The job cuts are in addition to the 12,500 announced in February and together amount to 20% of the 82,500 workers employed by France's Alcatel and U.S.-based Lucent Technologies at the time of the merger.
Russo -- who took over after Alcatel bought Lucent last November -- denied reports that she had been given an ultimatum by the board, saying it is "fully supportive" of her plans to expand the current three-year, 1.7-billion euro ($2.45 billion) cost-cutting program.