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Under-fire Nortel cuts jobs, launches new purge of executives
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| TORONTO : Scandal-hit telecoms giant Nortel Networks announced job cuts of 10 percent of its workforce and a new purge of executives as it muscled through a scandal which spawned two criminal probes. |
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Aug 19, 2004 21:07:03 |
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 18 ( -6 -33.33% ) | | Author | Channel News Asia |
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| Similar news: | - Nortel announces 3,500 job cuts, fires 7 executives - Nortel Networks (NYSE: NT) said Thursday it plans to slash a further 10 percent of its work force, or about 3,500 positions, as the company braces for the fallout from regulatory and criminal investigations into its accounting practices over the past ...
- Nortel cutting 3,500 jobs, fires 7 executives - Nortel Networks is eliminating 3,500 jobs and has fired seven more top executives as it struggles to deal with an accounting scandal that has prompted a criminal investigation.
- Nortel Cuts Jobs, Fires Execs - Stung by an accounting debacle and sector slump, Nortel (Quote, Chart) will lay off 3,500 employees, or 10 percent of its workforce, as part of a sweeping restructuring to put the company back on track.
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