-
Mark’s Blogs
Find ME Online
-
Category Archives: Financials
U.S Trustee Balks at Bonuses
It looks like the incentive bonuses that Nortel wants to give to its remaining employees over the next two years may turn into a battle.
According to BusinessWeek, acting U.S. Trustee Roberta DeAngelis is objecting to the $55.6 million of retention and incentive payments for 866 employees, describing them as “extraordinary”.
The payments are part of a [...]
A Note from Genband CEO Charlie Vogt
Now that the sale of Nortel’s carrier VoIP and applications business has been sold to Genband for $183-million, Genband CEO Carlie Vogt sent a note to the employees involved in the deal:
Greetings from GENBAND
An open letter to employees of Nortel’s Carrier VoIP and Application Solutions business
On behalf of GENBAND, our management team and Board of [...]
Genband Snaps Up Carrier Business
The carrier VoIP business must be in rough shape or Nortel’s carrier VoIP isn’t doing that well after it appeared that no one else other than Genband was interested in the business.
In a press release, Nortel said today that Genband has acquired the business for US$182-million after taking into account “balance sheet and other adjustments” [...]
U.S. Creditors to Battle Disability Deal
If you’re a Nortel employee on long-term disability, you really have to wonder if the world wants to play fair.
After accepting a $57-million deal recently that will see their benefits expire in December, the 400 people on long-term disability had to watch Nortel unveil plans to hand out more than $90-million in bonuses to 1,475 [...]
What’s Nortel Business Services?
Just in case you were wondering why Nortel needs to employ 1,475 people over the next two years (and give them incentive bonuses), here’s some information about Nortel Business Services, which was created last year after the company decided to sell all of its assets rather than restructure.
NBS was created to “facilitate an orderly transition [...]
Nortel’s Hidden Gem: Blade Network Technologies