| More Bloodletting at Nortel |
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| Written by Mike Buetow | |||
| Tuesday, 11 November 2008 09:23 | |||
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MONTREAL -- Nortel Networks today said it would cut about 1,300 jobs between now and 2009 after reporting a $3.41 billion loss in the September quarter, including a noncash charge of $3.21 billion for goodwill
and deferred tax assets. Among those losing their jobs are chief technology officer John Roese, global services president Dietmar Wendt and executive vice president global sales Bill Nelson. The company is instituting a series of wage and spending freezes as well in an effort to preserve cash.
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