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.

Brief Article, Abstract

---

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.

Canada, Company Profile

---

Similar abstracts:

• Abstracts: Slowdown blurs earnings outlook for Nortel, Palm. Compaq quarterly earnings rose 10%. IBM to jump on biotech bandwagon
• Abstracts: Global's CEO has wealthy appetite for deals. AT and T to package wirless, long-distance. SBC scales back plans for local telephone service
• Abstracts: New incarnation for legendary tavern. Starbucks drive-throughs: can the cafe keep its cool? Starbucks opening in Quebec
• Abstracts: Teens and on-line shopping don't click. E-tailers dash to wild, wild Web. Amazon.com turns page to turn a profit

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.