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Alcatel Space announces layoffs
Posted: Wed, Sep 25, 2002, 8:37 PM ET (0037 GMT)
Alcatel Space, one of the leading commercial satellite manufacturers, announced plans Wednesday to lay off nearly eight percent of its French workforce. The company said that an industrial organization plan will result in 400 layoffs at plants in Cannes, Nanterre, Toulouse and Valence by the first half of 2003. The company is also considering a project to convert its Valence facility to produce different projects; this could affect the plant's 250 employees. Company officials blamed a "continued downturn in space market" for the layoffs. Alcatel Space employs 5,200 throughout France.
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