JOB CUTS: Telecoms equipment maker Alcatel-Lucent plans to eliminate 5,000 jobs in a multimillion-euro drive to cut costs. It plans to exit or reduce operations in markets where it was struggling. It did not specifically name those markets.
FINANCIAL RESULTS: On Thursday, it reported a second-quarter net loss of €254 million ($308 million). The company logged the largest decline in revenue in Europe, where sales fell 15.6 percent over the second quarter the last year.
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THE FACTORS: The company said the global economic slowdown and heightened competition were hitting profits.
