Nortel to cut thousands more jobs

Canadian telecoms giant Nortel Networks has warned it expects to post a $3.6bn (£2.6bn) loss in the third quarter.

Nortel to cut thousands more jobs
Wed, 03 Oct, 2001 - 09:32

Canadian telecoms giant Nortel Networks has warned it expects to post a $3.6bn (£2.6bn) loss in the third quarter.

It will reduce its workforce by almost 20,000 more jobs to less than half the total it started with this year.

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