Nortel to eliminate about 3,500 jobs

Article Abstract:

Northern Telecom Ltd. of Brampton, Ontario, will slash some 3,500 jobs, or 5% of its global workforce of 80,000, in an effort to become more efficient. A company spokesman said the job cuts were decided following a review of the company's operations and will involve many of those in the management ranks. He said that none of the cuts will occur at Santa Clara, CA-based Bay Networks, a 7,000-employee company acquired by Northern Telecom in August 1998. He also added that the company will continue with its plans to recruit 6,000 more employees through 2001.

Comment:

Will slash some 3,500 jobs, or 5% of its global workforce of 80,000, in an effort to become more efficient

Labor force information, Northern Telecom Ltd., Article

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TSE under fire for waiting by phone for BCE confirmation

Article Abstract:

Montreal, Que.-based BCE Inc.'s share trading was halted on the Toronto Stock Exchange after investors reacted to news of the spin off of Brampton, Ont.-based Nortel Networks Corp. TSE management was criticized by investment executives for its delay in halting BCE trading activity.

Securities and Commodity Exchanges, Sales, profits & dividends, COMMUNICATION, Communications, Broadcasting and Telecommunications, Communications Equipment, Security and commodity exchanges, Securities Exchanges, Management, Telecommunications services industry, Telecommunications industry, Brief Article, Telecommunications equipment industry, Exchanges, Securities industry, Securities, BCE Inc., Nortel Networks Corp., NT, Toronto Stock Exchange

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