Nortel to layoff 5,000 jobs
2008 November 6
Nortel Networks Corp. could shed between 3,000 and 5,000 jobs when it details its latest restructuring plan next week, analysts said Tuesday (Nov. 4).
The company, North America’s biggest maker of telephone gear, said in September that a weak economy and spending cutbacks by the telecom companies that buy its equipment will lead to lower sales. It said these factors will necessitate new job cuts, but it did not specify a number.
Nortel’s payroll stands at about 32,000 — down from a peak of more than 90,000 in 2000 before the technology bubble burst.
It announced in February that it would cut 2,100 more jobs, but it was not clear how many of those layoffs have been implemented already.
source-EEtimes
