The internal e-mails are flying fast and furious at Nortel today. Here’s one from Philippe Morin, who heads up the Metro Ethernet Network business:
MEN team,
I am communicating today some important directional changes we are making to our Metro Ethernet Business. Over the course of the last few days and [...] Continue Reading…
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Here’s Mike Zafirovski’s e-mail to Nortel employees about the fourth-quarter and 2008 results:
Team Nortel: Our Q4 and full-year 2008 results were made public just moments ago. As we are now under creditor protection, we will not be holding a financial analyst call. However, it remains critical that you understand [...] Continue Reading…
As expected, the fourth-quarter was a tough one for Nortel as sales dropped 15% to $2.72-billion, while $2.18-billion of write-downs and charges led to a net loss of $2.13-billion.
While the fourth-quarter was not good, Nortel CEO Mike Zafirovski said in a statement there’s a silver lining as “strong operating [...] Continue Reading…
It’s All Virtual did an interview with Nic Sauriol, who is the venture lead on Nortel’s web.alive platform (aka Project Chainsaw). Given Nortel’s troubles, web.alive is a bright spot – albeit a small bright spot.
Technorati Tags: web.alive, nortel
While Nortel is working away on its new business strategy and restructuring plans, there’s also a lot of work being done to retain key employees from abandoning ship.
The two vehicles being used by Nortel are the Key Executive Incentive Plan (KEIP) and the Key Employee Retention Plan (KERP). In [...] Continue Reading…
Nortel Retirees Hire Law Frm
The Nortel Networks Protection Committee, which was created a few weeks ago, is looking to hire a law firm to represent all U.S.-based Nortel employees in the bankruptcy protection proceedings.
The NNPC needs 1,000 people to sign up and pay a retainer of $250 each to secure the services [...] Continue Reading…