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Nortel outlines plan to improve operating margins and business performance, 1,100 jobs eliminated

Nortel Networks Corp. today announced significant changes to its North American pension programs as well as a net r...


June 27, 2006  


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Nortel Networks Corp. today announced significant changes to its North American pension programs as well as a net reduction of approximately 1,100 positions globally.

Today’s announcement is the latest in a series of actions the company is taking to achieve a targeted operating-margin expansion in excess of US$1.5 billion in 2008.

“I am confident in the progress we are making in turning around Nortel and recreating a great company,” said Mike Zafirovski, Nortel president and CEO.

“In the past few months we’ve taken important steps, some with near-term impact, and others with longer-term benefits, toward transforming our operations to be more efficient and customer-focused.”


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