MURRAY HILL, New Jersey, United States—Telecom Equipment maker Lucent Technologies posted a first-quarter operating loss of US$757 million in contrast with US$1.4 billion in the year-earlier period.
The results beat analysts’ estimates by US$0.01 per share.
Its revenues from ongoing operations dropped to US$3.47 billion from US$3.8 billion during the same period last year, although its fourth-quarter revenues stood at US$4.8 billion.
Frank D’Amelio, the company’s chief financial officer, said Lucent will cut its staff to “somewhat below 55,000” by June. The company staff was 106,000 last January, out of which 62,000 workers were cut at the end of last year.
