Nortel Networks Corp stumbled into crisis mode once again as it cut its revenue forecasts, prepared for a new round of layoffs and said it was looking at selling one of its businesses.Blaming the weak economy and cutbacks in spending by telecom companies that buy the equipment it makes, Nortel projected lower third-quarter sales than analysts had expected, sending its shares plummeting to their lowest level on record.The announcement was reminiscent of the numerous restructurings and turnaround efforts the company undertook in the years following the bursting of the technology bubble at the start of the decade. Thousands of jobs have been shed since then, amid billions of dollars in losses.It was also a surprise. As recently as August 1, chief executive Mike Zafirovski told Reuters that there were no plans for a restructuring.
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