Alcatel-Lucent

Type
Merger/Acquisition
Country
Spain
Region
Comunidad de Madrid; Comunidad de Madrid;
Location of affected unit(s)
Madrid, Alcobendas
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
310 jobs
Number of planned job losses
Job loss
Announcement Date
14 February 2007
Employment effect (start)
14 February 2007
Foreseen end date
15 February 2009

Description

The Alcatel-Lucent merger, which has created a new giant manufacturer of telecommunications components, will lead to 310 job cuts in Madrid and Alcobendas, in Spain. The company currently employs 1,250 people in Spain and the dismissals will take place gradually in a period that will last up to 24 months. The reasons given by the new CEO are bad economic results. However, it is argued that although the Spanish division's performance is better than others, Alcatel-Lucent Iberia's restructuring is expected to be one of the hardest.

Sources

  • 14 February 2007: Cinco Días

Citation

Eurofound (2007), Alcatel-Lucent, Merger/Acquisition in Spain, factsheet number 64943, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64943.