Lucent Considers Options Concerning Future of Optical Fiber Solutions Business
MURRAY HILL, N.J., March 15 -- Lucent Technologies announced that it is considering a variety of options for its Atlanta-based Optical Fiber Solutions business, including an outright sale. Lucent is also considering forming a joint venture for the business unit.
The news comes on the heels of Lucent's massive restructuring plan, designed to cut expenses by as much as $2 billion. The seven-point restructuring plan, outlined in January, includes laying off 10,000 workers. Lucent's fiber business has about 6300 employees and is in the midst of a $1 billion expansion program to try to meet demand.
The French counterpart to Lucent, Alcatel, and manufacturing giant Tyco International are potential bidders for Optical Fiber Solutions, according to Reuters.
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