Alcatel To Lay Off 700 Workers In 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.