There could be more cuts in pensions and benefits coming for former Nortel workers and retirees.
A law firm representing the ex-employees made the announcement during a Webcast held this week. Furthermore, claims against the bankrupt telco giant will likely take several more months to resolve as Nortel sheds its business units. There’s less money to pump into the pensions and medical funds for retirees as the company sells itself off in pieces.
The toughest impact may be felt by people on long-term disability. The money in the trust that pays for that comes from Nortel’s general revenues, which most expect will shrink quickly.
Retirees – who have been getting pension and health benefits since Nortel declared bankruptcy in January – won’t be certain about their future benefits until sometime next year, the law firm said.
Ever think, "Does my company have the right mobile strategy for this era?" Find out how you can help your clients a… twitter.com/i/web/status/1…
October 18 2019 @ 20:15:05 UTC
In our webinar learn about workplace communication trends that will help you scale your business in 2020. @nextiva dlvr.it/RGT7ks
October 18 2019 @ 15:43:02 UTC
Want to keep up with the hottest channel headlines? Our weekly newsletter is for you. Sign up here >>… twitter.com/i/web/status/1…
October 17 2019 @ 18:01:04 UTC