Lucent 'to cut a further 5000 jobs'

Troubled telecoms equipment manufacturer Lucent will cut around 5,000 more jobs than originally expected by the end of June, according to reports.

Lucent, which had a workforce of 62,000 in December as the telecoms sector collapsed, could see its numbers drop to under 50,000, according to the Reuters report.

"It's not like a whole new program of restructuring," the source said. "It's a lot of little snips that will get the company [staff] to more like 50,000 by the end of June."

Lucent would not comment on the rumour, but said it would reveal staffing plans along with its fiscal second quarter results due out on 22 April which the company has already revised downwards.

Wall Street analysts were calling for more blood yesterday, some saying that a cut of between 10-15,000 was needed for Lucent to break even.