Phone Systems

Previous Thread
Next Thread
Print Thread
Rate Thread
Joined: Aug 2003
Posts: 5,132
Moderator-Vertical, Vodavi
*****
OP Online Content
Moderator-Vertical, Vodavi
*****
Joined: Aug 2003
Posts: 5,132
LONDON -- Canadian telecommunications-equipment firm Nortel Networks on Monday said it swung to a third-quarter net loss of $3.4 billion, or $6.85 a share, compared to net income of $27 million, or 5 cents a share, earned in the year-earlier quarter. Profit in the latest quarter was hit by a $2.07 billion increase in the valuation allowance against deferred tax assets and a goodwill write-off of $1.14 billion as well as other smaller charges. Revenue fell 14% to $2.32 billion, as a result of a "challenging economic environment, competitive pressures and reduced spending by carrier customers," in particular in North America. The company also warned that its results for the year would come at the bottom of its previous guidance. It added that due to the economic downturn and currency fluctuations, results could come in lower than current expectations. In order to preserve cash, Nortel unveiled further restructuring measures expected to save $400 million annually by 2009. It plans to cut an additional 1,300 jobs and will extend its hiring freeze through 2009.


Copyright © 2008 MarketWatch, Inc

https://www.foxbusiness.com/story/m...l-swings-quarter-loss-cuts-outlook-jobs/

A.T. Cross Company
Joined: Dec 2005
Posts: 7,056
RIP Moderator-Mitel, Panasonic
*****
Offline
RIP Moderator-Mitel, Panasonic
*****
Joined: Dec 2005
Posts: 7,056
Yeah, local TV news last night said 2,000 being laid off, including some @ Reseach Triangle Park, up by Raleigh, NC. Don't know what they do up there, unless they support Embarq's Nortel sales/service, as well as some of their own retail 'activities' in the 'triangle'. John C.


When I was young, I was Liberal. As I aged and wised up, I became Conservative. Now that I'm old, I have settled on Curmudgeon.
Joined: Jun 2001
Posts: 10,949
Moderator-Avaya
*****
Offline
Moderator-Avaya
*****
Joined: Jun 2001
Posts: 10,949
I got a 1st cousin that has worked at Triangle Park in Raleigh for going on 28 years on R/D of the DMS.
Last time I talked to him he said he had escaped the lay offs in the past, but if they had another he would probably be in the pink slip group.

Very sad news indeed. frown


Avaya SMB Authorized Business Partner. ACIS/APSS
ESI Certified Reseller/Installer
www.regal-comm.com
Joined: Dec 2005
Posts: 7,056
RIP Moderator-Mitel, Panasonic
*****
Offline
RIP Moderator-Mitel, Panasonic
*****
Joined: Dec 2005
Posts: 7,056
And the retirement length at Nortel is....30 years? frown John C.


When I was young, I was Liberal. As I aged and wised up, I became Conservative. Now that I'm old, I have settled on Curmudgeon.

Link Copied to Clipboard
Advertising Sponsor
Most Recent 5 Post
Saying good by to all the rest of my toshiba
by SSPhone - 05/07/21 04:28 PM
IP Office 500 V2 crash
by Mercenary Roadie - 05/07/21 08:24 AM
Random characters on screen
by dougster - 05/06/21 06:49 PM
How to subscribe to get full access.
by Ruben - 05/05/21 09:29 PM
OS UNI Card Version Question
by RM SYSTEMS - 05/04/21 04:53 PM
Popular Topics (Views)
Forum Statistics
Forums93
Topics94,377
Posts639,660
Members49,454
Most Online5,661
May 23rd, 2018
Today's Birthdays
KWH, PulseDial
Newest Members
Andrea Sau, eos90066, Sonic, ERA, Mackino
49,454 Registered Users
Get Tech Support Now! Click the banner below
Get Tech Support Now!
defencebyte.com
Antiransomware
Global Test Supply
EMP & Lightning Home Surge Protection
EMP - Click Here!
Top Posters (30 Days)
dexman 48
pvj 18
Ruben 15
bditech 11
Phone.com 300x250
300x250 Your Business Phone Service in the Cloud
www.aweber.com
landing page builder
Linked Banner to your Product or Website
NordVPN
Advertising Sponsor Spot 2
EMP Shield for Commercial - Home & Vehicle
Use Coupon code SAVE - Click Here!
Who's Online Now
33 members (hbiss, nameless, nortelvoip, Yoda, mbhydro, nfcphoneman, sundance, newtecky, BobRobert, dexman, pvj, Mercenary Roadie, CyberLaw, jeffmoss26, JBean3329, Touch Tone Tommy, Curlycord, Bushmills, Carl Navarro, Professor Shadow, SSPhone, KRRath, Ruben, justbill, gelehu, dougster, Biztel Cuban Okie Tech, hitechcomm, mongo5150, www.telcom1.net, Skunky, MooreTel, metelcom), 455 guests, and 82 robots.
Key: Admin, Global Mod, Mod
vpnproxymaster
Contact Us | Telephone System Tech Support | Terms of Service

Sundance Communications is not affiliated with any of the above manufacturers.
©Copyright Sundance Communications 1998-2021
Trusted Partners