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Lucent has been losing billions of dollars each year and has cut about 75percentt of its work force because of a severe industry slump and serious business missteps.
The dramatic move is fueled by both internal church politics and a severe industry downturn that has forced a spate of big-city papers to shut down or declare bankruptcy.
The combination of weakness in the housing market, volatile gas prices, falling used vehicle values and a general economic slowdown contributed to one of the most severe industry downturns on record, he said, which carried over into the first half of 2009.
The metamorphosis comes at a time when a severe industry slump has forced many of the industry's brightest stars out of business.
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While both are experiencing a severe computer industry downturn, neither HP nor Compaq are losers.
Third, the gender gap in income tends to be more severe in industries with more state-owned entities.
Although the short-term damage is severe, the travel industry hopes for at least some relief from the road warriors of American business.
In Minnesota, the state's unique payment disclosure and gift limit law has led a growing number of academic and private medical centers to impose severe restrictions on industry marketing practices.
But the impact on U.S. banks is expected to be among the most severe, and the industry was both vocal -- and aggressive -- in its opposition to Britain leaving the EU.
GRE's operating profits last year fell by almost two-thirds.The roots of the firm's malaise, however, affect not just GRE but the entire industry: severe overcapacity and steep falls in premium rates.
As the market rollercoaster has suffered severe drops, some industry bulls have insisted the video-game sector is recession-proof.
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