今天，layoff
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why do you think Montreal got a big hit? I see most of the cuts are in Ottawa.
- from OBJ:
The job cuts, 200 of which occurred in Ottawa, rank as the largest staff reduction by the Brampton, Ont.-based telecom equipment maker in more than year. Forty-five of the cuts are in Monkstown, Northern Ireland and the other 30 are in Montreal.
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Nortel cuts 275 jobs, sells fixed wireless operation
By Ottawa Business Journal Staff
Thu, Nov 6, 2003 8:00 AM EST
Nortel Networks cut 275 jobs from its optical networks division this week and is in talks with a Florida firm to sell off its fixed wireless access business for about US$12.9 million in cash.
The job cuts, 200 of which occurred in Ottawa, rank as the largest staff reduction by the Brampton, Ont.-based telecom equipment maker in more than year. Forty-five of the cuts are in Monkstown, Northern Ireland and the other 30 are in Montreal.
In Ottawa, the cuts translate to about 12 per cent of the division's staff and come in response to falling sales and weaker market share.
In Nortel's last quarter, sales of optical networking products fell 21 per cent from the year before to US$245 million.
During the height of the tech boom, optical networking products for high-speed data transmission over long-haul networks was one of the company's strongest businesses. Sales in fiscal 2000 totalled US$11 billion.
But the glut of capacity in global communications markets created by excessive build out in the late 1990s hit the long-haul market hard and was a key contributor to the burst of the tech bubble three years ago.
Stiff competition in the hard-pressed market from rivals such as Lucent Technologies and Cisco Systems has proven a major stumbling block ever since despite new products and new technologies from Nortel's engineers.
In separate news, Florida's Airspan, a provider of broadband fixed wireless DSL networks, said Wednesday it will wrap up the purchase of a Nortel division by the end of the year.
Airspan will acquire assets related to the manufacture, development and support of a fixed wireless product line sold by Nortel under the Proximity brand, including some intellectual property rights.
Nortel staff working at the operation will transfer to Airspan. Airspan will also acquire customer prepaid deposits in the amount of more than US$11 million.
Airspan said it expects the Proximity business to be immediately accretive to earnings and revenues.
Proximity has operations in England and Florida.
By Ottawa Business Journal Staff
Thu, Nov 6, 2003 8:00 AM EST
Nortel Networks cut 275 jobs from its optical networks division this week and is in talks with a Florida firm to sell off its fixed wireless access business for about US$12.9 million in cash.
The job cuts, 200 of which occurred in Ottawa, rank as the largest staff reduction by the Brampton, Ont.-based telecom equipment maker in more than year. Forty-five of the cuts are in Monkstown, Northern Ireland and the other 30 are in Montreal.
In Ottawa, the cuts translate to about 12 per cent of the division's staff and come in response to falling sales and weaker market share.
In Nortel's last quarter, sales of optical networking products fell 21 per cent from the year before to US$245 million.
During the height of the tech boom, optical networking products for high-speed data transmission over long-haul networks was one of the company's strongest businesses. Sales in fiscal 2000 totalled US$11 billion.
But the glut of capacity in global communications markets created by excessive build out in the late 1990s hit the long-haul market hard and was a key contributor to the burst of the tech bubble three years ago.
Stiff competition in the hard-pressed market from rivals such as Lucent Technologies and Cisco Systems has proven a major stumbling block ever since despite new products and new technologies from Nortel's engineers.
In separate news, Florida's Airspan, a provider of broadband fixed wireless DSL networks, said Wednesday it will wrap up the purchase of a Nortel division by the end of the year.
Airspan will acquire assets related to the manufacture, development and support of a fixed wireless product line sold by Nortel under the Proximity brand, including some intellectual property rights.
Nortel staff working at the operation will transfer to Airspan. Airspan will also acquire customer prepaid deposits in the amount of more than US$11 million.
Airspan said it expects the Proximity business to be immediately accretive to earnings and revenues.
Proximity has operations in England and Florida.
