Finland's Wireless Fast Track Thanks in large measure to mobile handset pacesetter Nokia, this small nation, about the size of Montana with a population of some 5 million people, is where the rest of the world looks for wireless guidance. But so far no one is willing to put it together. Printer friendly version.
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Nortel had previously announced plans to lay off about 15,000 workers. Nortel twice warned financial analysts that results for the quarter would be weak, and its loss for the quarter was in line with Wall Street's revised estimates-about 12 cents per share. However, the additional job cuts and Nortel's decision to withdraw its financial forecast for the remainder of the year indicate that the worst may not be over for Nortel. In a conference call with financial analysts, Nortel officials said about 10,000 positions have already been eliminated at the company since the first round of layoffs were announced in January. They said the remainder of cuts will be made by mid-year.