NEW YORK-Lucent Technologies Inc. said it has slashed its operating expenses by as much as 74 percent and the measures have increased margins by 16 percentage points and put the company on the path to profitability.
The company has pared its staff by 64 percent to 35,000 from 106,000 and plans to cut 3,500 more jobs by the end of 2003, according to chief financial officer Frank A. D’Amelio.
“There’s been a lot of redesign and it is helping us achieve our goals,” he said.
