Tuesday, July 23, 2002

Lucent posts $7.9 billion loss, slashes 7,000 jobs With battered U.S. telecom companies spending little on hardware upgrades, equipment maker Lucent Technologies Inc. posted a quarterly loss of $7.9 billion on Tuesday and said it would cut 7,000 more jobs. . . . Most of Lucent's loss was attributed to a massive $5.8 billion non-cash charge, which amounted to $1.70 per share. The company said the charge would defer a tax benefit which could be used in future years to reduce its taxable income. 12:12:45 PM  Google It!  comment  []