Earlier this week, Nortel provided an update about its bankruptcy protection process, which has now been underway for more than a year.
Despite the sale of most of its major assets, Nortel is asking for court approval for an incentive plan for the next two years for 1,475 employees working [...] Continue Reading…
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Imagine if you one of the thousands of people who were dismissed by Nortel over the pass year without a single penny of severance. Imagine if you were one of the 400 Nortel employees on long-term disability were had take a buy-out recently rather than risk losing all of [...] Continue Reading…
It’s been a long time since Nortel talked about the bankruptcy protection process, which started more than a year ago before moving into the “let’s sell everything but the kitchen sink” mode last June.Today, Nortel issued a press release that talks about well it has done in managing the [...] Continue Reading…
It’s been a long time since Nortel talked about the bankruptcy protection process, which started more than a year ago before moving into the “let’s sell everything but the kitchen sink” mode last June.Today, Nortel issued a press release that talks about well it has done in managing the [...] Continue Reading…
One of the more troubling offshoots of Nortel’s financial demise has been the uncertain fate of about 400 employees on long-term disability. Part of the problem was that the plan was being funded by Nortel rather than an external entity. As a result, it was unclear whether these employees [...] Continue Reading…
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 [...] Continue Reading…