French telecoms equipment maker, Alcatel-Lucent has announced that it will cut around 5,000 jobs around the world as part of its plans to generate 1.25 billion euros in revenues by the end of next year.

The company has reported a net loss of 254 million euros during the second quarter of the year. The total turnover of the company fell 7.1 per cent to 3.5 billion euros in the quarter compared to the same quarter in the previous year.