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Employees at Nortel's Ottawa campus are probably right to be worried after the company announced Monday that it would make 1,300 job cuts between now and 2009, says a local technology business analyst.
Ottawa will likely feel pain of Nortel cuts: analyst CBC Last Updated: Monday, November 10, 2008 | 6:09 PM ET Comments0Recommend0CBC News
Nortel's share price hit a record low of $1.08 on the Toronto Stock Exchange before closing at $1.11 Monday after the company announced the cuts and reported a third-quarter loss of $3.41 billion.
Tyler Chamberlin, an assistant professor at the University of Ottawa's Telfer School of Management, said even though the company hasn't specified what jobs will be cut, the fact that Nortel's Ottawa operations are focused on research and development doesn't bode well for employees.
"Put together the fact that they're scaling back R and D, and they're scaling back employees — I don't think it's too much of a stretch to think that a large part of those cuts are going to come in Ottawa," Chamberlin said.
The company also said Monday that four top executives will be leaving Jan. 1, 2009, including chief technology officer Jim Roese. Chamberlin said that's a bad sign suggesting Roese doesn't have faith either in the technology or the company's future prospects. On Monday, many of the company's 4,200 Ottawa employees were bracing for the worst.
英文全文
Ottawa will likely feel pain of Nortel cuts: analyst
Ottawa will likely feel pain of Nortel cuts: analyst CBC Last Updated: Monday, November 10, 2008 | 6:09 PM ET Comments0Recommend0CBC News
Nortel's share price hit a record low of $1.08 on the Toronto Stock Exchange before closing at $1.11 Monday after the company announced the cuts and reported a third-quarter loss of $3.41 billion.
Tyler Chamberlin, an assistant professor at the University of Ottawa's Telfer School of Management, said even though the company hasn't specified what jobs will be cut, the fact that Nortel's Ottawa operations are focused on research and development doesn't bode well for employees.
"Put together the fact that they're scaling back R and D, and they're scaling back employees — I don't think it's too much of a stretch to think that a large part of those cuts are going to come in Ottawa," Chamberlin said.
The company also said Monday that four top executives will be leaving Jan. 1, 2009, including chief technology officer Jim Roese. Chamberlin said that's a bad sign suggesting Roese doesn't have faith either in the technology or the company's future prospects. On Monday, many of the company's 4,200 Ottawa employees were bracing for the worst.
英文全文
Ottawa will likely feel pain of Nortel cuts: analyst
