Nortel to Cut 3,500 Jobs to Boost Profit
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OTTAWA  - Nortel Networks Corp.  posted long-awaited preliminary results for the first half of2004 on Thursday, estimating first and second quarter earningsbetween nil and 1 cent per share.
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Nortel Networks Corp. NT.TO expects  to report lower 2004 third-quarter revenues compared to the  second quarter, North America's largest maker of telecom  equipment said in a market update required by regulators on  Thursday.
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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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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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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 said it expects revenue for the third quarter to fall short of expectations.
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Retreating from an upbeat forecast it made just last month, Nortel Networks Corp. on Thursday warned that third-quarter sales will fall below its second quarter and 2004 revenue growth at
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Nortel Networks Corp.  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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Telecommunications maker Nortel Networks (NYSE: NT) won&#39;t have to lay off as many people as expected. The Canadian company announced Thursday that it plans to lay off 3,250 employees - about 250 less than
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In a long-delayed report to clean up a multiyear accounting scandal, Canadian telecom equipment maker Nortel Networks Corp. slashed its audited profit for 2003 by 40 percent while reporting that a dozen senior executives would repay $8.6 million in bonuses and five board members would resign.
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) warned on Thursday that third-quarter sales will fall below its second quarter and that full-year 2004 revenues at
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Newly-merged telecoms firm Alcatel-Lucent is to cut 12,500 jobs in three years as profits are halved.
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Nortel Networks said on Thursday it will 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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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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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 Ltd. (NYSE/Toronto: NT - message board) today fleshed out its staff reduction plans by announcing that 3,250 posts will be cut, down from the expected 3,500 (see Nortel Cuts 3,500 Jobs ). North
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Nortel Networks Corp. NT.TO said it  expects to report lower third-quarter revenues compared to the  second quarter, North America's largest maker of telecom  equipment said in a regulator required market update on  Thursday.