Alcatel announced the loss eighth consecutive quarter.

The French company Alcatel-Lucent, the world's largest manufacturer of equipment for fixed telephone lines, has announced a net loss in the fourth quarter of 2008 in the amount of 3,9 billion euros. That was reported by Bloomberg. For us this is the eighth consecutive quarterly loss.
Losses caused by the cancellation of corporate assets in the amount of 3,91 billion euro and the fall in sales at 5.3 percent. In general, losses increased by 60 percent over the same period in 2007.
The total amount of write-offs the company has reached 8 billion euros since the merger of Alcatel and Lucent in 2006. In September 2008, Alcatel-Lucent's leadership, the executive director was Vervayen Ben (Ben Verwaayen), as chairman of the board of directors Philippe Camus (Philippe Camus).
The Corporation intends to reduce the cost of one billion euros per year by restructuring. It is planned to cut 17,500 jobs.
The main competitor is Alcatel-Lucent, a Canadian company Nortel, in January 2009, declared bankruptcy once in 2005, has accumulated net losses amounting to 7 billion dollars.