Scandal-hit Nortel to make worker cuts
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NORTEL Networks plans to slash its workforce by 3500, or ten per cent, 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.   will slash 2,900 jobs, or 8.5 percent of its workforce, over the next two years and shift another 1,000 employees to lower-cost locations like China, India and Mexico as North America's biggest maker of telephone equipment struggles to shore up its profits.
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A standartisation to SAP is part of Nortel Networks&#39; restructuting plans and is part of a move that will also see 10% of its workforce, or around 3500 jobs, eliminated.
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Canadian officials are opening a criminal investigation into accounting at Nortel Networks Corp. Shares in the telecom-equipment maker edged lower Tuesday.
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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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Nortel Networks is under investigation by the Royal Canadian Mounted Police for irregularities in past accounting practices. Announcement of the investigation -- two days before its release of first- and second-quarter financials -- caused ...
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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.
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Canadian communications equipment manufacturer Nortel expects its third-quarter revenue to be lower than its second-quarter results.
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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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News of an RCMP criminal investigation of Nortel Networks and its financial accounting practices sent the company&#39;s shares down slightly on Tuesday.
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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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Nortel reduced layoffs by 250, as the company details plans to cut expenses
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) expects to report lower 2004 third-quarter revenues compared to the second quarter, North America&#39;s largest maker of telecom equipment
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Nortel plans to cut about 3,500 jobs, most of them affecting middle managers, in a move to save $450 million to $500 million per year.
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Nortel Networks Corp., North America&#39;s largest telephone-equipment maker, said third-quarter revenue will fall from the second quarter&#39;s $2.
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TORONTO (CP) - Nortel Networks gave details of previously announced job cuts Thursday, saying it is cutting 950 jobs in Canada - almost 10 per cent of its workforce in this country-and 1,400 in the United States among a total of 3,250 to be eliminated
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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.