job cuts


Nortel Slashes More Jobs

More U.S.-based Nortel Networks employees appear headed for the unemployment line. The company has announced it will cut 56 positions at its Richardson, Texas plant. The reduction becomes effective right around the first of the year. There’s no chance of those Dallas-area jobs returning, apparently. Nortel says the layoffs are permanent. The bankrupt equipment giant was […]

Yahoo! To Do Away With 700 More Jobs on Profit Drop

Search engine Yahoo! Inc. (YHOO) will slash hundreds more jobs on news that ad sales continued to drop in the first quarter of 2009. Online ad revenue hasn’t slumped this much since the dot-com bust, analysts say. The reality is hitting Yahoo! with a vengeance. The company will cut 600-700 more jobs, or about 5 percent […]

Nortel Enterprise Sale to Avaya Could Mean R&D Job Cuts

Nortel Networks employees might have a rooting interest in who buys pieces of the bankrupt company. A former company executive tells the Ottawa Citizen that it would be bad news if Avaya picks up Nortel’s enterprise unit. Since it’s a niche market – and Avaya is a direct competitor – Avaya probably wouldn’t need to […]

Nortel Again Prunes Workforce, Axes Stock Compensation

Nortel Networks Corp. (NT) workers can’t seem to catch a break. Today they learned there will be 3,200 more job cuts – in addition to the 1,300 announced late last year that have yet to be completed. The layoffs will take place worldwide over the next several months. “There is nothing more difficult than notifying employees, […]

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