Alcatel-Lucent to Slim Down, Refinance

June 19, 2013 at 9:02 am PT

Alcatel-Lucent plans to rework its balance sheet and significantly tighten its focus to a handful of core businesses, in an effort to return the telecommunications-equipment maker to profitability, the company said Wednesday.

In a new push — dubbed the “Shift Plan” — Alcatel-Lucent aims to slash €1 billion in annual costs, sell €1 billion in assets and direct resources away from older products that will now be “managed for cash,” the company said in a statement Wednesday morning. It said its goal is to make Alcatel-Lucent cash-flow positive in 2015.

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Tagged with: Alcatel-Lucent, Dana Cimilluca, Europe, Sam Schechner, telecom equipment, telecommunications, The Wall Street Journal

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