Real Kato Blog: Nortel Layoff Rumors Update

I've heard a little bit more news.

This is a followup to an earlier article about layoffs at Nortel's RTP facility.

I've been hearing some confirmation that the entire R&D population at this site will be let go. The word is that managers have been telling their employees that it's coming. It's going to be a blood bath.

Nortel stock last traded today at $2.30, which I believe is a new 52-week low.

Permalink 4 Comment

Posted by Ken in: commentary

Comments

Comment #1 from Nicholas (Guest)
2005 May 3 - 9:15 am : #

And IBM's hardware division is being bought. I've not heard how many lay-offs that will entail.

Comment #2 from Mitchell Craig (Guest)
2005 May 3 - 10:31 pm : #

Question -

Do you know about other divisions in RTP? In particular, the NMC that was moved from Corporate Center Drive? Am really curious as things are crazy here.

Comment #3 from Ken (realkato)
2005 May 4 - 2:22 am : #

Mitchell, sorry, I'm not sure. I've heard vague rumblings that certain sales and support teams will be left in place, but I don't have any concrete information.

Comment #4 from Ken (realkato)
2005 Jun 10 - 11:06 pm : #

Another update here.

Comments are closed for this post.

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