Alcatel To Lay Off 700 Workers In Raleigh
Posted July 9, 2001 5:30 a.m. EDT
RALEIGH — There is bad news for Alcatel employees in Raleigh. The company says it is laying off 700 of its 1,500 workers.
The Wake Forest Road plant makes high-speed modems and other telecommunications gear. One hundred thirty-two Raleigh Alcatel workers received pink slips last April.
Last month, the French-based telecommunications company agreed to sell its modem business to Thomson Multimedia. The company says laid-off workers will get a severance package and outplacement help.
A proposed merger of Alcatel and Lucent Technologies was called off in May.