Alcatel Plans to Trim 3,038 Additional Jobs

Alcatel plans to eliminate 3,038 jobs in its optical fiber and undersea network businesses by mid-2002 because of a slump in demand.

The Paris-based maker of telecommunications equipment said 780 of the cuts will be made in the U.S., and the rest will be made in France, Britain and Australia. The new job reductions amount to less than 3% of the company’s total work force but amount to about one-third of the work force at its undersea network and fiber-optic businesses.

Alcatel’s American depositary receipts rose 10 cents to $5 on Nasdaq.