Nortel Cuts Fewer Jobs, Exits Real Estate
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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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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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Nortel Networks Corp., North America&#39;s largest telephone-equipment maker, said sales growth this year will lag that of competitors and predicted third- quarter revenue will fall from the second period&#39;s $2.
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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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Retreating from an upbeat forecast it made just last month, Nortel Networks Corp. (NT.TO: Quote, Profile, Research) on Thursday warned that third-quarter sales will fall
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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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TORONTO (CP) - Nortel Networks stock fell to its lowest price in more than a year Wednesday after the troubled telecommunications equipment maker again delayed its much-anticipated financial restatements, this time until mid-November.
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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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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.
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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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Nortel Networks Corp. NT.TO on  Thursday warned that third-quarter sales will fall below its  second quarter and that full-year 2004 revenues at North  America's largest telecom equipment maker will lag the overall  sector.
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Retreating from an upbeat forecast it  made just last month, Nortel Networks Corp. NT.TO on Thursday  warned that third-quarter sales will fall below its second  quarter and 2004 revenue growth at North America's largest  telecom equipment maker will lag the sector.
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AT&amp;T Corp. announced Thursday that it is cutting at least 7,500 more jobs and slashing the value of its assets by $11.4 billion, drastic moves prompted by the company&#39;s plan to retreat from the traditional consumer telephone business.
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The company said it would eliminate 275 jobs and slash direct mortgage lending to preserve cash after it was forced to cancel a $101.2 million rights offering.
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EarthLink Inc  said on Tuesday it will cut about 900 jobs as part of a restructuring to reduce costs, and its board authorized an additional $200 million share buyback, sending its shares up 10 percent.
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Nortel Networks will lay off about 1,400 employees in the US and about 950 in Canada, with those employees to be notified by the end of June 2005.
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Telecoms equipment maker Nortel Networks sharply revises downwards its profits for the 2003 fiscal year.