Alcatel-Lucent, a telecom equipment maker, had planned to cut down its staff by 10000. This was after the company had planned a cost cutting drive to save EUR1 billion by 2015, reported Les Echos and Le Figaro newspapers on their websites last Monday.

The company currently has 72000 staff worldwide and would cut down 15000 posts but would create 5000 new jobs, said newspapers. The company had intended to reduce 900 net posts in France or about 10% of the domestic workforce. Alcatel-Lucent also planned to close sites in Rennes and Toulouse and would sell plants at Eu and Ormes, said Les Echos.

Le Figaro said that the job cuts would hit all regions. The company planned to reduce jobs in Europe by cutting 4100 workers. The telecom equipment maker would also cut jobs in the Middle East and Africa. It would reduce 3800 jobs in Asia and 2100 jobs in the Americas.

The company had a recorded net loss valued EUR1.2 billion last year, the biggest loss for Alcatel-Lucent since 2008.

A representative for Alcatel-Lucent refused to comment regarding the reports.