Nortel takes unusual step in effort to calm jittery investors

Article Abstract:

Nortel Networks Corp., in an attempt to calm the anxious investors, posted earnings forecasts for the 2000 fourth-quarter. The company forecasts 26 US cents per share in operating profits for the period. Nortel also expectd to post 16 US cents per share in operating profits for the 2001 first-quarter.

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Nortel carnage continues

Article Abstract:

Brampton, Ont.-based Nortel Networks Corp., which has lost share value, has denied that rival Linthicum, Md.-based Ciena Corp. has obtained key contracts from Denver, Co.-based Qwest Communications International Inc. Nortel has been hurt by industry analysts who reported that WorldCom Inc. may halt equipment purchases from Nortel.

Capital expenditures, Contracts & orders received, Wired Telecommunications Carriers, Telephone Communications, Long Distance Telephone Svc, Telephone communications, exc. radio, Telecommunications services industry, Telecommunications industry, Telecommunications equipment, Telephone services, Long distance telephone services, Contracts, WCOM, CIENA Corp., Qwest Communications International Inc., QWST, MCI Inc.

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More woe at Nortel: Profit warning, job cuts

Article Abstract:

Brampton, Ont.-based Nortel Networks Corp., which is a leading telecommunications equipment maker, has announced it expects to cut approximately 15,000 jobs worldwide. Nortel, which had previously estimated job cuts at about 10,000 workers, said it expects revenues of between $6.1 billion to $6.2 billion in the first quarter ending March 31, 2001.

Labor force information

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