Nortel woes hint at slow recovery
Article Abstract:
Nortel Networks said it expects to sustain a net loss of $19.2 billion during 2nd qtr 2001 and plans to eliminate 10,000 jobs. The company added that its quarterly revenues would amount to only $4.5 billion, down by 38% from the same period in 2000. Of the $19.5-billion loss, $1.5 billion would come from operations, while the rest would be due to one-time charges, including asset writedowns and the cost of getting out of the digital subscriber line business.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Nortel shocks investors with warning of $3.6B loss
Article Abstract:
Nortel Networks third quarter losses stun investors. Third quarter losses for the company were $3.6 billion as company plans to cut 20,000 more jobs and replace the firm's chief financial officer.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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