Alcatel-Lucent (ALU) today announced major restructuring plans for the company, including cutting approximately 10,000 jobs worldwide by the end of 2015.

The cuts, coming as part of what the ALU named “The Shift Plan,” break down as 4,100 jobs cut in Europe, the Middle East and Africa, 3,800 in Asia Pacific and 2,100 in Americas. The company will also halve the number of its business hubs globally by the end of 2015.

“The Shift Plan is about the company regaining control of its destiny," CEO Michel Combes said in a statement.

Specifically, ALU said the plan is about repositioning the company as a “specialist in the next-generation technologies of IP Networking, Cloud and Ultra-Broadband.” But even more so, it’s about putting the company back in the black.

As such, ALU will shift R&D spending on next-generation tech from 65 percent to 85 percent by the end of 2015, while reducing R&D spending on legacy tech by 60 percent within the same timeframe.

The big job cuts and reallocation of spending at ALU follows years of bleeding money, with the company losing $1.8 billion in 2012 and $1.4 billion in 2011.

Last year, ALU announced 5,000 job cuts following a $308 million loss in the second quarter.

Late last month, reports surfaced saying Nokia was considering buying ALU’s wireless business, which Reuters valued between $1.49 billion to $2.03 billion. But representatives said ALU’s "priority is to execute The Shift Plan in order to give us the means to manage our own destiny."