StockMarketWire.com - Shares in Alcatel-Lucent, a major manufacturer of telecoms equipment, rose on the Paris markets today after it announced a major cost cutting drive.

It is looking for savings of £1.4bn and plans to cut 10,000 staff. The company made an annual loss of $1.6bn last year.

Many of the cuts will come in France.



Story provided by StockMarketWire.com