Nortel Layoffs Job Cut: fires 3200 employees

The news is not good for the employees of Nortel, which used to be a major telecom instruments business company in the market, but now declared bankrupt. The recession is taking a toll on all sectors. The latest additon to the list of companies going for layoffs is the Nortel.

How many employees may be fired in the Nortel layoffs?
There could be around 3200 layoffs by the Nortel organization. This will be in addition to the 1800 job cuts company has already made.

What is the total no. of employees of Nortel?
Total No. of employees of Nortel is around 30,000 as of now. In Canada, it has around 6000 employees.

Which locations will be affected by the Nortel Job Cuts?
No detailed information is available location wise.

When will the Nortel layoffs happen?
THough there are no confirm dates about when the layoffs will be made, but it is learnt that they will be done as soon as possible.

How much savings can be made by the company from the layoffs?
No info about that.

What is the primary reasons for Nortel layoffs?
Major reason are because of the restructuring efforts due to poor economy & challenging economic conditions. The layoffs are done in a bid to reduce costs.

Any other news about Nortel layoffs
As per The Star, Nortel said its board had approved changes to the company's compensation programs. They include a decision to no longer pay bonuses to managers under Nortel's annual incentive plan and to seek permission from the courts to terminate its equity-based compensation plans. Full and part-time employees will still be eligible for performance incentives paid on a quarterly basis
   Let's hope that alternative jobs are available to the affected employees of Nortel Layoffs Job Cut