For the past three years, Nortel has been in cost-cutting mode as Mike Z. and his senior management team focused on making the company leaner, meaner and viable.
Well, that didn’t work as well as planned so Nortel filed for bankruptcy protection so it could have more flexibility to reduce [...] Continue Reading…
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According to a new report by Dell’Oro Group, the worldwide optical transport equipment market grew 12% in 2008 but expected to decline 9 percent in 2009.
“In the fourth quarter, we saw flat sequential growth in North America and EMEA and strong sequential growth in sales to Asia Pacific,” said [...] Continue Reading…
Nortel’s Buzzboard blog has more details about Nortel’s sale of Alteon assets to Radware.
Technorati Tags: nortel, radware
So, Alteon pulled in a cool $17.65-million for selling some of Alteon’s technology to Radware – a far cry from the speculated $30-million to $50-million.
Nortel told a bankruptcy court that the value of Alteon had fallen, and could decline even further, which is bad news for the potential sale [...] Continue Reading…
With Nortel selling parts of the Alteon’s business to Radware, it seems timely to look back on the multi-billion dollar acquisition spree that Nortel went on during the telecom boom. Keep in mind that many of the major players were spending like a drunken sailor.
- Broadband Networks Inc., broadband [...] Continue Reading…
Another 3,200 Employees Get the Axe
With speculation rumbling over the last week or so, it should not come as a surprise that Nortel announced today it will slash its workforce by another 3,200 employees, or about 10% of its workforce, over the next few months.
“There is nothing more difficult than notifying employees, and Nortel [...] Continue Reading…