Europe’s Telecoms Feel the Pain, Take It Out on Workers

These are tough times for Europe’s telecom-equipment makers. Weakening demand for hardware and intensifying competition from Chinese gear manufacturers Huawei Technologies and ZTE are taking a toll on some of the region’s top companies, judging from news out of Europe. Unprofitable phone-equipment maker Alcatel-Lucent SA will need to eliminate 10,000 positions to catch up with more efficient rivals as the company’s cash pile shrinks, according to data compiled by Bloomberg. The Paris, France-based company announced plans to cut 5,500 jobs in October.