Lucent offers early retirement

Lucent Technologies has announced that it will offer more than 10,000 employees early retirement.

The offer will be extended on Monday primarily to U.S.-based managers and a small number of non-union clerical workers. Those offered early retirement would have until July 10 to make a decision. Lucent currently has about 104,000 employees worldwide, 77,000 in the U.S.

“We’re doing this as part of our effort to accelerate our restructuring plan,” said a Lucent spokesman. “We’re trying to pick up the pace given that we’re moving ahead on our own and given the current market conditions.”

Under the terms of the early retirement program, those accepting the offer would have five years added to both their age and years with the company, a move that would increase their pension benefits.

In addition, people accepting the offer would immediately be vested in their stock options.

The spokesman declined to say how many people the company expected, or hoped, would accept the early retirement offer. If not enough people accept the offer, however, the company will “make further decisions” about its headcount.