French telecommunications equipment maker Alcatel is expected to show a net less this year of about €5 billion, company chief executive Mr Pierre Tchuruk warned today.
Earlier today Alcatel announced plans to eliminate 10,000 jobs in Europe.
An Alcatel spokeman said today that cuts from the company's 200-strong Irish workforce are not expected.
Alcatel, reported a net loss of €558 million for the three months to the end of September, compared with a profit of €297 million in the same period the previous year.
The losses came as sales dipped 18 per cent to €5.61bn on a pro-forma basis, excluding the Nexans cable unit that was floated in June.
Mr Tchuruk said the third-quarter losses were a result of a severe downturn in the US, affecting particularly its handset and submarine cable businesses.
He added that the company was expecting the US slowness to spread to European operations.
AFP