Nortel Announces 3,200 New Layoffs Worldwide

North America’s largest telecommunications maker Nortel has announced it will cut 3,200 jobs internationally in 2009, on top of the 1,300 job cuts announced in November 2008. The laid off employees will not recieve any severance or other compensation. Although a tuff decision that will financially affect employees and their families, the company says the cuts are necessary. Nortel recently filed for chapter 11-bankruptcy protection on Jan 14, 2009 as the company tries to regroup under these tuff economic times.


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  1. Nortel to Pay Executives $7.3M in Bonuses With Court Win | Business 2.0 Press Says:

    [...] Nortel filed for Chapter 11 bankruptcy protection on January 14, 2009. Under the new restructuring plans, the company plans to cut up to 5,000 jobs by the end of 2009, most recently announcing 3,200 new job cuts. [...]

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