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<HTML>Work force size to remain unchanged in 2001 11-JAN-2001
TORONTO ? Nortel Networks today indicated that it expects its overall number of employees to remain unchanged in 2001.
Nortel Networks' regular full time work force, including joint venture employees, was approximately 94,500 at Dec. 31, 2000, up from approximately 83,500 at this time last year.
While the company expects to continue to hire in 2001 to address customer needs and drive leadership in high growth markets, the company estimates that approximately 4,000 regular full time positions will be eliminated in the near term through streamlining and realignment activities.
The number of affected employees is expected to be minimized as a result of normal attrition, including retirement.
"In 2000, we added critical resources to further enhance our responsiveness to customers and laser-like focus on the high-growth areas of their businesses, where demand is most robust," said Clarence Chandran, chief operating officer, Nortel Networks. "In 2001, hiring to address high-growth markets will remain a priority."
By focusing its work force and product portfolio on the high-growth areas of its customers' businesses, Nortel Networks will further fuel its multiple growth engines of Optical and Wireless Internet, Local Internet and eBusiness. This will result in the ongoing alignment of its business and workforce with high-growth markets, stemming initiatives and organizations that are not in line with this direction.
Affected employees will be notified in writing and will be offered appropriate termination arrangements including severance and outplacement services. </HTML>
TORONTO ? Nortel Networks today indicated that it expects its overall number of employees to remain unchanged in 2001.
Nortel Networks' regular full time work force, including joint venture employees, was approximately 94,500 at Dec. 31, 2000, up from approximately 83,500 at this time last year.
While the company expects to continue to hire in 2001 to address customer needs and drive leadership in high growth markets, the company estimates that approximately 4,000 regular full time positions will be eliminated in the near term through streamlining and realignment activities.
The number of affected employees is expected to be minimized as a result of normal attrition, including retirement.
"In 2000, we added critical resources to further enhance our responsiveness to customers and laser-like focus on the high-growth areas of their businesses, where demand is most robust," said Clarence Chandran, chief operating officer, Nortel Networks. "In 2001, hiring to address high-growth markets will remain a priority."
By focusing its work force and product portfolio on the high-growth areas of its customers' businesses, Nortel Networks will further fuel its multiple growth engines of Optical and Wireless Internet, Local Internet and eBusiness. This will result in the ongoing alignment of its business and workforce with high-growth markets, stemming initiatives and organizations that are not in line with this direction.
Affected employees will be notified in writing and will be offered appropriate termination arrangements including severance and outplacement services. </HTML>
