Restructuring charges and currency inequities among markets hit Nortel Networks (NT) hard in the second quarter.
The Canada-based telecom equipment manufacturer said orders and sales for CDMA wireless technology were impacted greatly as U.S. wireless carriers slow spending in a down economy. Cost-cutting will be a key goal for the rest of the year, Nortel said, and you know what that more than likely includes ─ jobs.
Bloomberg: Nortel Loss Widens to $113 Million on Job-Cut Costs
Ottawa Business Journal: Nortel hit by restructuring charges in Q2
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