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Nortel's Turnaround Still Far From Finished (NT)
Silicon Alley Insider —
... Three years after Nortel CEO Mike Zafirovski took over, the Canadian network gear maker is still flailing: After posting a $3.4 billion Q3 loss, Nortel (NT) said it would cut 1,300 employees and shed key executives, including CTO John Roese, one of Zafirovski's ...
Nortel: Q3 In Line; Guidance Lowered; Cutting 1,300 Jobs; Freezing Hiring, Salaries; Some Execs Out
BARRONS.com: Tech Trader Daily —
... The company posted third quarter results that were about in line with Street expectations: revenue was $2.32 billion, while adjusted EPS was a loss of 30 cents a share; the Street had been looking for $2.31 billion and a loss of 30 cents. But the company also took a $3.21 billion non-cash charge to write down goodwill and deferred tax assets. ...
Nortel’s rerun: Another purge, another restructuring
Between the Lines —
... Nortel on Monday purged its executive ranks–Chief Marketing Officer Lauren Flaherty, Chief Technology Officer John Roese, Global Services President Dietmar Wendt and Executive Vice President Global Sales Bill Nelson are all leaving Jan. 1–and announced yet another restructuring amid a weak earnings. Continuity and Nortel are two words that just don’t quite go together. The latest: Nortel is laying off 1,300 workers and restructuring during an economic downturn ( statement , ...
