Lucent, in move to boost morale, is revising its bonus, stock plans

Article Abstract:

Lucent Technologies Inc. will reinstitute its stock-option and bonus programs for employees in an effort to improve morale and halt employee turnover. Bonuses will be given quarterly instead of annually. Morale is at an all-time low for many reasons, one being the revelation that Chief Executive Richard McGinn, recently dismissed, had invested in Zhone Technologies Inc., a Lucent competitor.

Management, Human resource management, Prevention, Employee benefits, Employee morale, Employee turnover, McGinn, Richard

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Lucent results disappoint, major job cuts

Article Abstract:

Lucent announced first quarter revenue of $5.84 bil and a loss of $395 mil. Without one time items, the loss is $1.02 bil. The comparable 1999 period showed revenue of $8.07 bil and income of $1.25 bil. The telecom equipment maker plans a restructuring which will cost $1.2 bil to $1.4 bil. This year it plans to reduce workforce by 10,000, expenses by $2 bil, working capital by $2 bil, capital spending by $400 mil, and expand use of (offshore) contract manufacturing.

Organizational history, Statistical Data Included, Company restructuring/company reorganization, Reorganization and restructuring

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Ciena cuts projections for quarter, year

Article Abstract:

Telecom equipment maker Ciena Corp. projected that fourth quarter earnings would be 20% lower than previously forecast which disappointed analysts who had hoped the company would exceed expectations. Ciena's stock fell $8.50 a share, representing 30% of the value of the company, as it had been one of the few telecom companies not to have already lost value.

CIENA Corp.

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