Avaya to cut 3,000 jobs

Telecoms equipment maker Avaya is to lay off 3,000 staff in an attempt to ride out the industry depression.
Avaya blamed an ongoing slowdown in customer purchases, particularly noticeable in Europe, for the cuts.
The Lucent Technologies spin-off said that third-quarter revenue will drop four to six per cent, and up to eight per cent in the following period.
Shares in the New Jersey-based firm closed down 12 cents to $15.