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Digest
Nortel to cut another 3,200 jobs
Source: New York Times
February 26, 2009
The telecommunications equipment maker Nortel Networks said Wednesday that it would cut its work force by 3,200 jobs worldwide.
The company, based in Canada, said the new round of job cuts would be made over the next several months. The reduction is on top of 1,800 job cuts already announced.
Earlier this month, Nortel received a bankruptcy protection extension until May 1 from the Ontario Superior Court of Justice. It filed for creditor protection Jan. 14 in Canada and the United States, and got an initial 30-day protection period.
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The company, based in Canada, said the new round of job cuts would be made over the next several months. The reduction is on top of 1,800 job cuts already announced.
Earlier this month, Nortel received a bankruptcy protection extension until May 1 from the Ontario Superior Court of Justice. It filed for creditor protection Jan. 14 in Canada and the United States, and got an initial 30-day protection period.
Read full article>>
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