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Two leading powerhouses in the telecommunications component space are finally joining forces. In April, Murray Hill-based Lucent Technologies and French firm Alcatel agreed to merge. Lucent shareholders will get a little over $3 per share, valuing the deal at $13.5 billion. Once approved, the merger will yield job cuts on both sides of the Atlantic - an estimated 8,800 positions over two years to help shave off nearly $2 million costs.
Lucent's current CEO and Chairwoman Patricia Russo, who will lead the combined company from Paris, said in a news conference that the cuts will be made fairly.
Lucent employs about 6,400 people in New Jersey. Many fear that...