Alcatel Lucent SA (NYSE:ALU) narrowed its losses in the first quarter, mostly because of the aggressive cost cutting Shift Plan being implemented by CEO Michel Combes that aimed to cut 10,000 jobs and €1 billion in costs between 2013 and 2015. Five quarters into the plan, fixed cost savings have hit €478 million with this past quarter showing the most progress.
“We began 2014 as we ended 2013 — totally focused on driving implementation of The Shift Plan,” said Combes. “This confirms the industrial logic of the strategic choices we have made and provides a good start on which to build during the rest of 2014 as we work towards our objective of bringing the Group as a whole back...
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