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Lucent mulls sale of fiber-optics unit
Lucent Technologies, the struggling telecommunications equipment maker, said Wednesday that it is considering a variety of options for one of its business units, including an outright sale.Another option, Lucent (lu) said, is to form a joint venture for its Atlanta-based Optical Fiber Solutions business, a unit that makes optical fibers and related products.
Lucent Technologies, the struggling telecommunications equipment maker, said Wednesday that it is considering a variety of options for one of its business units, including an outright sale.
Another option, Lucent (lu) said, is to form a joint venture for its Atlanta-based Optical Fiber Solutions business, a unit that makes optical fibers and related products.
The move comes after Lucent, based in Murray Hill, N.J., began a massive restructuring plan, hoping to reverse substantial losses and cut expenses by as much as $2 billion. The seven-point restructuring plan, outlined in January, includes laying off 10,000 workers.
Lucent's fiber business has about 6,300 employees and is in the midst of a $1 billion expansion program to try to meet demand.
The company said it is hoping to "better focus (its) resources and investments on the areas critical to (its) markets." --Sandeep Junnarkar, Special to ZDNet News