7. Alcatel-Lucent:

Job Cuts: 5,000

Global telecommunications equipment corporation, Alcatel-Lucent, is headquartered in the 7^th arrondissement of Paris, France. The company provides telecommunication solutions to service providers, governments and enterprises around the world. The company’s mainly focuses are on mobile, fixed and converged networking hardware, software and services. The latest lay off news from the company came in the month of July, 2012, when the company announced that, it will be going to cut of jobs of 5,000 employees. The decision was been taken to produce more profit towards the company by lowering its spending charges. It was reported that, except the research and development department of the company, all the other divisions will be affected severely by this move. The job cutting process will be completed by the end of next year [2013].

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6. Nokia Siemens:

Job Cuts: 7,030

Nokia Siemens is a multinational data networking and telecommunications equipment company which is based in Espoo, Finland. This company is a joint venture of Nokia of Finland and Siemens of Germany. The company has its operations in 150 countries around the world and it has been declared as the fourth largest telecoms equipment manufacturer as per its 2011 revenues. In this year, during the month of March, Nokia Siemens had cut around 2,900 jobs in Germany along with 630 job cuts in Finland and 3,500 jobs in Latin America that comes to the total of 7,030 job cuts. Earlier this month the company also stated that, it has increased its speed of restructuring [job cutting] faster than expected. The reason can be because as it is facing tough competitions from its rivals in China as well as from Sweden’s Ericsson.

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