北电正式申请破产保护,股票代号NT已经被纽约证券交易所取消.

[helenmelody]

北电害人呀。。。。。。

 

[iuevllksjlg]

什么时候'裁'? 等不急了! 人们常说 '等待是一种痛苦!'

 

[oohoo]

Layoff should start in the second half of Febuary. The first month from the day Nortel declares BP is the "cooling" period for bunsiness and customers. After that actions take place. Good luck.

 

[flyingheart_canada]

这周无事。。。。。。

 

[坐山雕]

平安无事哦！ 。。。






想开点儿，
又捡个PAY ROLL！

 

[ChinaFarmer]

Just received Zmail from MZ. I won a bet with another guys that pay cut won't happen based on the following paragraph, as I clearly know at least one big guy does not want to get affected.

"I also want to take this opportunity to address one rumor I have heard around implementing pay cuts instead of or in addition to the reductions. The answer is we will not be doing this."

 

[天山童姥]

Just received Zmail from MZ. I won a bet with another guys that pay cut won't happen based on the following paragraph, as I clearly know at least one big guy does not want to get affected.

"I also want to take this opportunity to address one rumor I have heard around implementing pay cuts instead of or in addition to the reductions. The answer is we will not be doing this."

Nice! I hope we can trust him...for a month or 2... :blink:

 

[Track]

If there were pay cut, his pay should be cut first.
In the mean time, NT decided not to honor the severance packages with recent laid-off workers. Does anyone want to work for a company that does not treat its ex-employees fairly? Is there hope for this company to continue?
Even its utilities suppliers want bigger deposit. Nortel vs. The Utilities | All About Nortel.
No shame! Just get as much as you can before it is done.

Just received Zmail from MZ. I won a bet with another guys that pay cut won't happen based on the following paragraph, as I clearly know at least one big guy does not want to get affected.

"I also want to take this opportunity to address one rumor I have heard around implementing pay cuts instead of or in addition to the reductions. The answer is we will not be doing this."

 

[SipWorld]

He is not trustable any more. Hopeless at all!

Nice! I hope we can trust him...for a month or 2... :blink:

 

[a_little]

The Ottawa Citizen’s James Bagnell, who has been writing about Nortel for years, has a feature story looking at how Nortel’s senior executives have done extremely well over the past eight years as the company’s value and business has eroded. He writes that “From 1999 to 2008, the five best-paid executives — including the CEOs — pulled down $400 million as their company hurtled toward bankruptcy protection”, and how that every recent CEO - with the exception of Bill Owens - have qualified for six-figure annual pensions.

 

[天山童姥]

Quote a comment on allaboutnortel.com:


Back to the HR GIS that was held for managers. I wont summarize the slides as I dont have the time but here are the key points from the session:

-layoffs done by 11 am
-network access till 1 pm
-out the door by 5 pm that day through special security
-warn act will apply but limited to 33% laid off
-vacation will be paid out
-will try and remove layers of management
-benefits provided till the end of the month in which you get axed
-will be multiple rounds as HR can only process so many ppl at a time
-exit package will include regional specific info
-people who work in entity 313 in Sunrise will be entitled to existing severance policies
-managers will have reduction tagets and will be based upon performance where it is not the entire group that gets axed
-Ont law for severance will not apply under CCAA
-no prenotification though some good managers who actually respect their employees are prenotifying
-10 day minimium to process a person once their name has been submitted for the axe
-if employee skips notification day it will be rescheduled
-management working retention plan for key employees.


And I found it really funny how the HR exec ended the session on the fact that the managers could be proud because they performed the task with ''excellence''

 

[LostRabbit]

Quote a comment on allaboutnortel.com:


-layoffs done by 11 am
-network access till 1 pm
-out the door by 5 pm that day through special security
<Armed police with gun will show up>
-warn act will apply but limited to 33% laid off
-vacation will be paid out
<This is good, many people may accumulate at least 3-6 weeks>
-will try and remove layers of management
-benefits provided till the end of the month in which you get axed
-will be multiple rounds as HR can only process so many ppl at a time
-exit package will include regional specific info
<Some money in the "package" to give out, some may get this "bonus", who is lucky enough to get this? We will see>
-people who work in entity 313 in Sunrise will be entitled to existing severance policies
-managers will have reduction tagets and will be based upon
performance where it is not the entire group that gets axed
<As before, solider let go first, no hope for Nortel keeps doing like this>
-Ont law for severance will not apply under CCAA
-no prenotification though some good managers who actually respect their employees are prenotifying
-10 day minimium to process a person once their name has been submitted for the axe
-if employee skips notification day it will be rescheduled
<Take as many as sick days as possible, even using family days>
-management working retention plan for key employees.
<This is definitely a loophole that manager can keep the employee he likes, who may not be the person contributing most>

There will be still 67% employees left at least till the end of March. People thrown into that 1/3 would be very sad and angry for sure.

In such case where 2/3 people may survive that some people may use his/her personal relationship with manager to stay as long as possible, "relationship", "personal relationship" or "bribery" do matter at this moment same as what is in China. Such behaviour would also be a trigger point for some unexpected incidents to happen in the coming weeks.

 

[camelie]

Quote a comment on allaboutnortel.com:


Back to the HR GIS that was held for managers. I wont summarize the slides as I dont have the time but here are the key points from the session:

-layoffs done by 11 am
-network access till 1 pm
-out the door by 5 pm that day through special security
-warn act will apply but limited to 33% laid off
-vacation will be paid out
-will try and remove layers of management
-benefits provided till the end of the month in which you get axed
-will be multiple rounds as HR can only process so many ppl at a time
-exit package will include regional specific info
-people who work in entity 313 in Sunrise will be entitled to existing severance policies
-managers will have reduction tagets and will be based upon performance where it is not the entire group that gets axed
-Ont law for severance will not apply under CCAA
-no prenotification though some good managers who actually respect their employees are prenotifying
-10 day minimium to process a person once their name has been submitted for the axe
-if employee skips notification day it will be rescheduled
-management working retention plan for key employees.


And I found it really funny how the HR exec ended the session on the fact that the managers could be proud because they performed the task with ''excellence''

快下刀吧，等得真难受。

 

[m234]

ALL MZ has been done so far is bleeding dry NT. Obvious he gets paid for everyday he can stay

With the protection and significantly reduced sail, can there be a turn around ? How long NT can pay even 20,000 head count ? Why anyone wants to buy NT products not knowing if it'll be around in a while ...

 

[Track]

快下刀吧，等得真难受。

别着急,快了.

This post is from a Nortel official blogger.

Bo Gowan 2 hours ago 1 point Please login to rate.
Do you already have an account? Log in and claim this comment.
Hey Mark, agree that these two statements on timing can be confusing. Here's what I know....

1 – a workforce reduction plan is in the works – and Nortel anticipates announcing it in the near term.

2 – a comprehensive business review is under way to craft a restructuring plan. This process will take several weeks to months as Nortel works with several parties, including creditors, to define the best plan for Nortel.

Also FYI for internal Nortel employees, there is a new article on our Intranet that gives an overview of recent activities. Obviously that article doesn't answer all the open questions, but it's an attempt at putting a variety of updates in one place: http://web.us.nortel.com/sites/WorldNews/Englis...