Nortel trims layoff plan
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Telecommunications equipment maker Nortel Networks will not lay off as many employees as it previously predicted, the company said Thursday.
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TTAWA, Aug. 19 - Nortel Networks, the troubled Canadian telecommunications equipment maker, has fired seven more financial managers as it continued to sort out the accounting scandal that led to the dismissal of its president this year.
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TORONTO -- Nortel Networks said yesterday it will slash its workforce by 3,500, or 10 percent, as it struggles to recover from an accounting scandal that toppled three top executives and led to a criminal ...
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Plus: SCO to cap legal costs...Novell sees weakness in IT spending...Salesforce reports rise in profit...Nortel to lay off 3,500.
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NEW YORK -- Nortel Networks Corp., one of the top global makers of telecommunications equipment in North America, said Thursday it expects third-quarter revenue to fall short of the $2.
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AOL laid off more than 450 employees at its corporate headquarters yesterday as part of plans announced earlier this year to cut costs and change the company's business strategy.
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TORONTO -- Nortel Networks Corp., which is in the process of resolving an accounting mess that will result in restatements of prior years&#39; earnings, expects a 28 percent reduction in previously announced net earnings for 2003, compared with its previous
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Company will slash nearly 3,250 jobs, reduce real estate to lower annual costs by $393.7M in 2005. TORONTO  - Nortel Networks Corp.
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National Semiconductor Corp. NSM.N  on Thursday said it would cut about 6 percent of its work force  to reduce costs amid a chip supply glut and it will book  severance charges of between $22 million and $26 million for  the move.
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International Business Machines Corp.  said it laid off about 1,570 employees on Wednesday in its computer services business in the United States, part of a plan to trim costs in the unit.
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EarthLink Inc said on Tuesday it will  cut about 900 jobs, or nearly half its staff, as part of a  restructuring to reduce costs at the Internet service provider.
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Nortel Networks Corp., North America&#39;s biggest maker of phone equipment, said it will pare 3,250 jobs, 250 fewer than it had predicted last month.
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TORONTO -- Nortel Networks said yesterday it will slash its workforce by 3,500, or 10 percent, as it struggles to recover from an accounting scandal that toppled three top executives and led to a criminal investigation and lawsuits.
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Nortel Networks Corp. NT.TO NT.N  took steps to close the books on a protracted accounting  scandal on Tuesday, releasing long-awaited restatements of  results from 2001 through 2003 and announcing that executives  would pay back millions of dollars in bonuses.
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Nortel Networks Corp. on Thursday said it would eliminate about 10 percent of its work force, slightly less than previously estimated, and consolidate real estate in a cost-cutting plan that will save $500 million in 2005.
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Nortel Networks Corp. NT.TO NT.N,  one of the world's largest telecom equipment makers, filed its  long-awaited restatement of 2003 results on Tuesday which cut  earnings, but boosted revenue.
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Scandal-hit telecom giant Nortel Networks on Thursday announced job cuts of 10 percent of its workforce and a new purge of executives as it muscled through a scandal which has spawned two criminal probes.