Tag Archives: severance

While Rome Burns, More Bonuses for Execs

By Mark Evans | Published: November 26, 2009
Update: CBC (television) will be running a report tonight on its investigation into 72 Nortel executives getting additional bonuses. If the Nortel soap opera could turn any more bizarre, the CBC has obtained documents that indicate Nortel launched a new compensation plan earlier this Fall that will see executives receive $7.5-million in addition to their [...]
Posted in Financials, Legal Issues | Also tagged , , , | 40 Comments

V-Day for Nortel’s French Employees

By Mark Evans | Published: July 17, 2009
Well, it looks like some Nortel employees are going to get some severance for losing their jobs. After going on strike, protesting and planting a fake bomb, Nortel’s French employees have struck a deal with the company’s administrators, Ernst & Young, over severance pay following a meeting with Industry Minister Christian Estrosi. Estrosi agreed to [...]
Posted in Financials | Also tagged , , | 60 Comments

French Strikers Blow a Gasket

By Mark Evans | Published: July 15, 2009
With frustrating mounting over the non-payment of severance, some Nortel French employees staged a fake bomb threat today by placing empty cooking canisters outside the company’s plant in Chateaufort, France with a sign reading “boom”. The employees were upset after a meeting with Ernst & Young was cancelled. Nortel’s French employees are asking for 100,000 [...]
Posted in Financials | Also tagged , , | 119 Comments

Webinar About Pensions, Health and Long-Term Disability Plans

By Mark Evans | Published: July 4, 2009
A group representing ex-Nortel employees and pensioners will be holding a Webinar on July 8 to talk about how the Canadian government must make an emergency amendment to the Bankruptcy and Insolvency Act to put pension, health and long term disability plan deficits and severance ahead of unsecured creditors. The group also wants the federal [...]
Posted in Financials | Also tagged , , | 21 Comments
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