More Woes for Nortel?
Beleaguered telecom leader Nortel has had so many problems over the past few years that posting yet another story about impending layoffs feels like rubbing salt in the wound. Nortel really needs to get a handle on the problems and reset a course for success. They've got so many excellent products and services, but the ongoing sream of negative news like this can't do anything but raise skepticism about the company as a whole.
Nortel May Cut 10% of Its WorkforceTechnorati Tags: Nortel, layoffs, unified communications
UBS Research analyst Nikos Theodosopoulos in a note to his clients says that Nortel, the Ottawa-based telecom equipment maker will make steep cuts to its workforce -- "possibly amounting to 10% or more of its total workforce, or at least 3,000 employees." Nortel has some liquidity concerns and needs to make cuts & sell its Metro Ethernet Networks (MEN) business in order to stabilize itself.
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