Thursday, November 13, 2008

Economic signs

Financial Post: Bankruptcy 'distinct possibility' for Nortel, analysts predict
Nortel's decision to eliminate another 1,300 jobs earlier this week, which included several senior positions, is expected to save approximately US$190-million in annual costs next year. However, National Bank Financial analyst Kris Thompson said the cuts would have been deeper if the company had the capital to pay for additional severance costs.
Nortel doesn't have enough money to lay everybody they want to.


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