Lucent issues new options

Article Abstract:

Lucent Technologies Inc has issued new stock options to around 75% of its 65,000 non-union employees in an attempt to retain workers whose present options are worthless. The options were granted to clerical employees and senior executives. The telecommunications equipment manufacturer has sustained a $1.02-billion loss in 1st qtr 2001 and has been affected by slowing US economy, reduced demand for its products, inadequate products and high internal costs. Lucent needs employee support to return to success.

Personnel administration

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Timing of Lucent CFO's departure shock analysts

Article Abstract:

Lucent Technologies Inc on May 6, 2001 announced that its CFO Deborah Hopkins resigned after only a year on the job and as the firm struggles to solve its financial problems. According to the company, Hopkins' departure is 'not related to strategic disagreements' with Lucent CEO Henry Schacht and Hopkins. However, people familiar with the company's management suspect that personality conflicts between Hopkins and Lucent's senior leadership caused the resignation.

Executive changes & profiles

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Lucent plans to slash 16,000 jobs, sell plants

Article Abstract:

Lucent Technologies will implement cost-cutting strategies to return to profitable growth. The struggling telecommunications equipment maker has promised to save more than $2 billion annually by trimming 16,000 jobs, selling plants and scrapping unprofitable products. It plans to cut its workforce from 123,000 to around 90,000. After the announcement of its cost-cutting strategy, Lucent's shares went up 4.3% to close at $19.63.

Strategy & planning

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