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Lucent Stock Drop 'No Surprise' to Workers
When Lucent Technologies reported that its fiscal year first quarter earnings would be lower than anticipated, it caused a major drop in the company’s stock value — nearly 29 percent — accompanied by analysts’ speculation that the company would need time to restore “credibility and confidence.”
But “CWA members who work at Lucent Technologies weren't surprised,” said Jim Irvine, CWA vice president for Communications and Technologies, because “we’ve been talking with Lucent for months about its downsizing of employees who install these sophisticated systems and equipment, and how the absence of a long-term employment strategy will harm the business.”
Lucent announced a downsizing of 1,300 technicians in its small business unit last November. In the meantime, the company has been unable to meet demand for its equipment and products that can transmit a rapidly growing volume of data and voice traffic, as well as installation and service, Irvine said.
“At a time when the telecommunications sector is exceptionally strong and demand for Lucent’s products and expertise should be at its peak, Lucent is weakening its own position by eliminating the jobs of the very people who give Lucent its competitive edge. Lucent needs to maintain its quality workforce, not cut it, so that business customers can continue to receive the service they expect and deserve,” he said.
But “CWA members who work at Lucent Technologies weren't surprised,” said Jim Irvine, CWA vice president for Communications and Technologies, because “we’ve been talking with Lucent for months about its downsizing of employees who install these sophisticated systems and equipment, and how the absence of a long-term employment strategy will harm the business.”
Lucent announced a downsizing of 1,300 technicians in its small business unit last November. In the meantime, the company has been unable to meet demand for its equipment and products that can transmit a rapidly growing volume of data and voice traffic, as well as installation and service, Irvine said.
“At a time when the telecommunications sector is exceptionally strong and demand for Lucent’s products and expertise should be at its peak, Lucent is weakening its own position by eliminating the jobs of the very people who give Lucent its competitive edge. Lucent needs to maintain its quality workforce, not cut it, so that business customers can continue to receive the service they expect and deserve,” he said.