Nortel has announced that it is cutting staff yet again:
High-tech equipment maker Nortel Networks said Wednesday it is cutting 2,100 jobs and will transfer 1,000 other jobs to lower-cost countries.
Nortel did not provide a breakdown of the job cuts, but the majority of them will be in North America.
The company currently employs 6,800 people in Canada and 11,900 in the United States. Its global workforce numbers 32,550.
I used to work there – they bought my employer Bay Networks – and I still own some stock. It seems that the company has proven over and over again that they just don’t know what they are doing. Rather than die the death of a thousand cuts, perhaps they should start shopping around for a buyer while they still can.
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