Nortel Will Cut Workforce by 10 Percent
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TORONTO, Aug. 19 -- Nortel Networks Corp. said Thursday 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 investigation and lawsuits.
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Nortel Networks Corp. NT.TO said on  Thursday it will eliminate almost 10 percent of its workforce,  slightly less than it previously expected, and vacate real  estate in a cost-cutting plan that will save $500 million in  2005.
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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 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. (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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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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Intel Corp. INTC.O said on   Tuesday it will cut a total of 10,500 workers, or 10 percent of   its workforce, by the middle of next year, as part of a   restructuring aimed at making the world's biggest chipmaker   more competitive.
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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force, or 7,000 jobs.
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Aug. 23, 2004  Problem-plagued Nortel Networks Corp. announced plans Thursday, Aug. 19, to eliminate an additional 3,500 jobs and fire seven more senior executives as the company labors to reinvent
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Intel, the world's largest computer chip manufacturer, will cut 10,500 jobs, or about 10% of its total staff.
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Aluminum producer Alcoa Inc.  on Tuesday announced a restructuring of its product operations that will include plant closings and could ultimately result in a 10 percent reduction of its worldwide work force.
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Cingular Wireless plans to cut about 10 percent of its work force next year as the company adjusts to complete its recent merger with Redmond-based AT&amp;T Wireless Services inc.
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Nortel Networks Corp. 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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European aircraft maker Airbus announced 10,000 job cuts and a timetable for slashing its factory network Wednesday, in a bid to solve the crisis caused by problems with its A380 superjumbo jet.
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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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Cingular Wireless, the nation&#39;s largest cellphone company, will cut about 10 percent of its 68,000 jobs over the next 12 to 18 months as it combines operations with the recently
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Aluminum producer Alcoa Inc.  on  Tuesday announced a restructuring of its product operations  that will include plant closings and could ultimately result in  a 10 percent reduction of its worldwide work force.