Nortel Details Previously Announced Cuts
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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.
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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. (NT.TO: Quote, Profile, Research) said on Thursday it will eliminate almost 10 percent of its workforce, slightly less than it previously expected, and
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The Nortel Networks Corporation, which is restating results back through 2001, said yesterday that it would not have financial statements for last year and the first half of 2004 ready until the end of October, a month later than planned.
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TORONTO - Shares of Nortel Networks dipped on the TSX in the wake of news the RCMP has launched an investigation into accounting practices at the telecommunications company.
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NEW YORK (CBS.MW) - Nortel Networks shares fell Tuesday after the company said the Royal Canadian Mounted Police&#39;s informal probe of the company&#39;s accounting has now become a criminal investigation.
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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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WASHINGTON (CBS.MW) -- The latest corporate overhaul by Nortel Networks will shear the company of all its manufacturing operations and leave it with 70 percent fewer workers than it had four years ago.
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SEPTEMBER 30, 2004 (REUTERS) - Nortel Networks Corp. said today that its cost-cutting plan will save $500 million in 2005, and even more in future years, as it cuts fewer jobs than forecast but plans to eliminate some of its real estate space.
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NEW YORK -- Nortel Networks Corp. reported a loss of 6 cents per share in the third quarter and predicted lower sales for 2004 than in 2003 on Tuesday, providing some of its first concrete figures for the
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TORONTO - Nortel Networks warned Thursday its third-quarter revenue will be below the $2.6 billion US preliminary unaudited revenues it reported for the second quarter.
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Less than a week after it launched a media blitz to boost its image, Nortel Networks Ltd. postponed yet again the release of its financial statements, underlining the company&#39;s challenges to steer out of the
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Nortel Networks Corp. NT.TO delivered  long-awaited preliminary results for the first half of 2004 on  Thursday that showed estimated first and second quarter  earnings between nil and 1 cent per share, and North America's  biggest telecom equipment supplier said it would cut about  3,500 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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NEW YORK, October 27  - Nortel Networks Corporation (NT.NYS) has postponed the release of its long-awaited financial results restatement until mid-November this year.
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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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Nortel Networks Corp. expects to report lower 2004 third-quarter revenues compared to the second quarter, North America&#39;s largest maker of telecom equipment said in a market update required by regulators on Thursday.