Nortel to lay off 3,500
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The scandal-beset company will also lay off about 10 percent of its work force.
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NEW YORK -- Nortel Networks Corp. reported a loss of 6 cents per share in the third quarter and predicted lower sales for 2004 than in 2003 on Tuesday, providing some of its first concrete figures for the
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Nortel Networks Corp. (NT.TO: Quote, Profile, Research) expects to report lower 2004 third-quarter revenues compared to the second quarter, North America&#39;s largest maker of telecom equipment
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Nortel Networks Corp. expects its revenue in the third quarter to fall below the previous quarter&#39;s estimated number and for its full-year 2004 revenue to grow slower than the overall communications equipment
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The Marsh &amp; McLennan Company, the troubled insurance and investment company, said today that it would lay off 3,000 employees, or roughly 5 percent of its work force, as it moved to right
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Marsh &amp; McLennan Companies Inc. announced disappointing earnings for the third quarter and said it will lay off 3,000 employees, or about 5 percent of its work force, because of fallout from a bid-rigging
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Nortel Networks Corp. said it will cut 3,500 jobs, or 10 percent of its workforce, and fired seven finance officials tied to an accounting scandal.
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Troubled telecoms giant Nortel Networks plans to cut about 3,500 jobs and fired seven more executives following the financial reporting scandal that has engulfed it.
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Nortel Networks Corp. NT.TO said on  Thursday its cost-cutting plan will save $500 million in 2005,  and even more in future years, as it eliminates fewer jobs than  forecast, but plans to exit real estate.
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Nortel Networks Corp., North America&#39;s biggest maker of phone equipment, said it will pare 3,250 jobs, 250 fewer than it had predicted last month.
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The chief financial officer of Nortel Networks, Peter Currie, who rejoined the company in 2005 to help it recover from accounting problems, will step down on April 30. Nortel, the maker of phone equipment, said it had begun seeking a successor. Mr. Currie decided to pursue other interests, a spokesman, Jay Barta, said. Mr. Currie was chief financial officer from 1994 to early 1997 before leaving to become chief financial officer at the Royal Bank of Canada.
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Aug. 23, 2004  Problem-plagued Nortel Networks Corp. announced plans Thursday, Aug. 19, to eliminate an additional 3,500 jobs and fire seven more senior executives as the company labors to reinvent
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Nortel Networks Corp., North America&#39;s largest maker of telephone equipment, said revenue in the third quarter will decline from the second quarter&#39;s $2.
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NORTEL Networks plans to slash its workforce by 3500, or ten per cent, as it struggles to recover from an accounting scandal that toppled three top executives and led to a criminal investigation and lawsuits.
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NEW YORK -- Nortel Networks Corp., one of the top global makers of telecommunications equipment in North America, said Thursday it expects third-quarter revenue to fall short of the $2.
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Nortel Networks Corp.   will slash 2,900 jobs, or 8.5 percent of its workforce, over the next two years and shift another 1,000 employees to lower-cost locations like China, India and Mexico as North America's biggest maker of telephone equipment struggles to shore up its profits.
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Staggered by accusations that it cheated its customers, Marsh & McLennan will lay off 3,000 employees, or 5 percent of its work force.