Celestica cuts 5,500 jobs, shifts operations offshore: Manufacturing axing 10 to 15% of work force; ramping up in China, Romania

Article Abstract:

Toronto-based contract electronics manufacturer Celestica Inc. announced on 27 January 2005, that about 5,500 staff would lose their job over the next 15 months mostly in high-cost centers in North America and Western Europe. The move was initiated in an attempt to cut the cost on account of widening losses and rising sales and is expected to cost the company between $225-million (US) and $275-million in restructuring charges.

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Ottawa R&D centre hit hard by Nortel cuts

Article Abstract:

The Nortel Networks Corp.'s research and development campus in Ottawa is taking the support of the job cuts the company planned to make across Canada as part of global layoffs. Nortel will eliminate about 750 jobs in Ottawa at the R&D called Carling headquarters, the largest industrial high-tech campus in Canada.

Telephone and telegraph apparatus, Telecommunications equipment industry, Nortel Networks Corp., NT

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Celestica says bad run nearing end

Article Abstract:

Canada's electronics manufacturing giant Celestica Inc. has reported has reported 10percent revenue loss in first quarter of 2006. This is better performance of the company as its reported 50percent revenue loss in 2005 first quarter.

Sales, profits & dividends, Company sales and earnings, Company earnings/profit, 2006 AD

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