Nortel to shed 30000 jobs globally.
Hello...Yes, we are bankrupt!
Damn, this is the company sponsoring the 2010 winter olympics in Vancouver and the 2012 Summer Olympics in London. One wonders how that deal came about when they have no money? Those 30000 employers who are to be sacked must be so proud to be apart of the Olympics… Not!
Long-suffering Nortel has been trying to restructure for more than three years and becomes the first major North American technology company to be forced into bankruptcy protection by the the global downturn and credit market crunch.
If they were long-suffering for more than three years, why on earth did they get involved with the winter olympics and also the London Olympics in 2012.
Job losses: 30000
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