Nortel CEO Mike Zafirovski has done a nice job giving the company some stability but the natives (aka Wall St. and Bay St. analysts) are getting restless. A good example is Scotia Capital analyst Gus Papageorgiou who applauded yesterday’s pension plan changes and job reductions but clearly wants more. In a research report, he said “improving operating efficiencies is a positive, companies do not succeed by operations alone. What we are looking for from Nortel’s senior management team is a clear vision of what the company will be, particularly in light of recent M&A activity in the sector. Operational excellence is crucial in executing on a company’s strategy, but with no set strategic direction, improving execution abilities can only go so far.” Who knows, maybe he’ll get some satisfaction at tomorrow’s AGM.
What about the other ‘natives’ … the employees that are left. The last six years have not been an easy ride – executing any strategic plan relies on retaining and motivating your employees – many of whom are not feeling valued.
another anonymous nortel employee
I guess at this moment we are just a liability, too expensive to employ and lucky we lasted this long. I like how they will make us wait in limbo before telling us we are laid off. Great for moral.
The Natives Are Getting Restless
Nortel CEO Mike Zafirovski has done a nice job giving the company some stability but the natives (aka Wall St. and Bay St. analysts) are getting restless. A good example is Scotia Capital analyst Gus Papageorgiou who applauded yesterday’s pension plan changes and job reductions but clearly wants more. In a research report, he said “improving operating efficiencies is a positive, companies do not succeed by operations alone. What we are looking for from Nortel’s senior management team is a clear vision of what the company will be, particularly in light of recent M&A activity in the sector. Operational excellence is crucial in executing on a company’s strategy, but with no set strategic direction, improving execution abilities can only go so far.” Who knows, maybe he’ll get some satisfaction at tomorrow’s AGM.