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Tag Archives: pensions
Nortel Quote of the Day
“Nobody is safe, unless you are working in [Parliament Hill], I guess,” “We worked all our lives for this and it’s just been pulled out from underneath us.” - Bob Dowson, 68, who retired from Nortel’s Brampton office after 32 years, during a rally yesterday by Nortel employees and pensions in front of Parliament Hill [...]
Photo of the Week
This photo appeared last week as one of the Wall St. Journal’s pictures of the day. It features Stan and Barbara Araelien, former Nortel Networks employees, who appeared at a protest at Queen’s Park.
Nortel Pensioners to Rally
As Nortel’s continues its methodical march into oblivion, one of the most contentious issues is how pensioners and people on long-term disability will be treated. So far, the situation is far from good as pension benefits have already been slashed. In an effort to put the spotlight on pensioners and those on long-term disability, a [...]
Pennies for Canadian Pensioners?
As Nortel satisfies the needs of creditors by raising money through the Nortel Garage Sale, one of the big questions is whether there is going to be anything left for Nortel’s pensioners and ex-employees, as well as people on long-term disability. So far, Nortel has clawed back new retirees to 69% of their original pension [...]
Nortel Pensioners Want BIA Changes
With Nortel scaling back the pensions of ex-Nortel employees, a group is putting the pressure on the Canadian government to changes the Bankruptcy and Insolvency Act to give preferred status to the claims of pensioners, disabled and terminated employees over unsecured bond holders and other unsecured creditors. The group want to obtain full protection of [...]
Nortel’s Sweet CEO Pension Packages