Updated 12:40 p.m. EST -- Lucent (NYSE: LU) unveiled the first installment of its restructuring plan designed to shave $2 billion in expenses. The company cut 10,000 jobs Wednesday and said it would take a hefty charge in its second fiscal quarter. The struggling telecommunications equipment provider outlined a seven-point restructuring plan and said it could cut its expenses by $2 billion, twice the amount it forecasted in December. As part of the plan, Lucent will cut 10,000 jobs through layoffs and attrition. The majority of affected employees will be notified between now and Feb. 15. By early March, all employees will know their fate, the company said. To fix its problems, Lucent said it will outsource manufacturing to contract manufacturers. Contract equipment manufacturers are used heavily by Lucent rivals Nortel and Cisco. On a conference call with analysts, Lucent CEO Henry Schacht said the company will close two facilities, eliminating an additional 6,000 jobs by the end of the year.