PARIS-French telecom gear maker Alcatel said it narrowed its net loss to $1.2 billion for the fourth quarter, 2002 compared with a net loss of $1.6 billion for the same period last year.
The company, however, said it expects sales to drop between 25 and 30 percent in the current quarter.
Alcatel had an operating profit of $21.5 million in the quarter as against $400 million a year earlier.
The French company plans to cut its work force to 70,000 by the end of this year from 110,000 at the end of 2000.
