Investors: Nortel may axe 5,000 jobs
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Nortel Networks Corp. investors predicted Tuesday the telecom equipment giant will again slash jobs when it reports long-overdue results this week, and shrugged off news of another criminal probe into its high-profile accounting woes.
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Oracle Corp. will fire 5,000 workers in the financial fallout from the business software maker's recently completed &#36;10.3 billion takeover of rival PeopleSoft Inc.
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Nortel Networks Corp. will cut 250 fewer jobs than it first expected but nearly a quarter of the 3,250 employees facing pink slips over the next nine months are slated to come from Ottawa, the company revealed yesterday.
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Oracle Corp. will fire 5,000 workers in the financial fallout from the business software maker's recently completed $10.3 billion takeover of rival PeopleSoft Inc.
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Oracle Corp.  will cut 5,000 jobs as it combines with PeopleSoft Inc., the business software rival it acquired for &#36;10.3 billion after a bitterly fought takeover battle.
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Wyeth said Friday that it might cut as many as 5,000 jobs, after federal regulators delayed four medicines in the last year.
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Nortel Networks Corp., which is restating results back to 1999, said it had a third-quarter loss of 6 cents a share because of expenses related to job cuts and a wireless contract in India.
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TORONTO Nortel Networks said on Thursday that it would slash its work force 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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SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 13, 2004--Afin de fournir aux entreprises les moyens de se libÃ©rer des contraintes de travail Ã  partir de leurs sites physiques, Nortel Networks (NYSE:NT)(TSX:NT
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Nortel Networks Corp. NT.TO 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. said it will cut 3,500 jobs, or 10 percent of its workforce, and fired seven finance officials tied to an accounting scandal.
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Investor's Business Daily - U.S. corporations announced plans to cut 74,986 jobs, up from Dec's 44,416 and 19% above a year ago, according to outplacement firm Challenger, Gray & Christmas. Financial firms slashed 15,789 jobs and drug makers planned to ax 7,628 positions. Job cuts remain below levels of the '01 recession, Challenger said.
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) said on Thursday its cost-cutting plan will save $500 million in 2005, and even more in future years, as it eliminates fewer jobs than forecast, but plans to exit real estate.
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Time Warner's struggling Internet unit AOL said it was likely to lay off about 5,000 employees, or a quarter of its global workforce, in the next six months.
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Nortel Networks Corp. will lay off approximately 1,400 employees in the US and about 950 in Canada, with those employees to be notified by the end of June 2005, the network equipment vendor said in a regulatory
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DEARBORN, Mich. -- Ford Motor Co.'s board will be faced this week with the option of cutting about 6,000 more jobs than previously announced as part of changes to its North American turnaround effort, according to a published report yesterday.
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TORONTO Sept. 30, 2004 - Nortel Networks Corp. gave details of a previously announced job cut program Thursday, saying it is cutting 1,400 in the United States by next June.