Lucent to Cut Mobility Jobs
"There will be cuts across the board," Frank Briamonte, a Lucent spokesperson, told Unstrung.
The struggling vendor posted an overall quarterly net loss of $7.9 billion and saw its revenue cut by half to $2.9 billion, compared with $5.9 billion in the same quarter a year ago (see Lucent Loses $7.9B). The mobility solutions group's results look relatively healthy compared to the grim overall picture. The unit posted revenue of $1.45 billion, down only 8 percent on the previous quarter and 2 percent year on year.
"We are continuing to see interest in our new wireless data products," Briamonte says.
Despite this, the firm still isn't confident enough to give guidance on its outlook for the fourth quarter, due to "continuing market uncertainty." However, Briamonte says the company is still expecting to return to profitability late next year.
— Dan Jones, Senior Editor, Unstrung