Nortel Eyes Israel Offices for More Layoffs

Nortel Networks Corp. (NT) wants to save a third of its employee costs by laying off 34 workers at its Israel offices.

The bankrupt telecom equipment maker has asked its court trustees for permission to cut those jobs. The move reportedly would allow Nortel to tighten its spending by about $3.8 million per year.

Nortel didn’t say why it’s eyeing its Israel operations over others.

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