PARIS -- During a meeting between Alcatel CIT management and the Workers' Council of the company, personnel representatives were briefed on details of a cost-reduction plan aimed at aligning the company with the persistent slowdown in the telecommunications industry. In addition to significant cutbacks in operating expenses, the plan calls for the reduction of 1,700 jobs. Half of the reductions will be accounted for by the non-renewal of fixed-term contracts (temporary employees and outside contractors), and half from early retirement, under the terms of an agreement signed with four unions. At November 30, 2001 the company counted 9,900 employees and 1,000 fixed-term contracts. This cost-reduction plan was initiated during the last quarter of 2001 and will continue throughout 2002. It forms part of Alcatel's worldwide effort to reduce costs. Alcatel CIT is the carrier equipment subsidiary of the Alcatel group in France. Alcatel SA