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Pastimes : Layoff Totals for US Companies
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To: Gofer who wrote (110)2/15/2001 4:22:50 PM
From: Gofer  Read Replies (3) of 8051
 
Nortel, another 4,000 (10,000 total)

What gobbledegook:

In light of the current environment, Nortel Networks plans to immediately step up its initiatives to optimize profitability and drive efficiencies in its business by further streamlining operations and activities that are not aligned with its core markets and leadership strategies. The company now estimates that there will be a reduction in 2001 of approximately 10,000 from the number of employees at December 31, 2000 through these streamlining and realignment activities. Approximately 6,000 employees have been addressed to date. The number of affected employees is expected to be minimized as a result of normal attrition, including retirement.

They don't fire people. They address them.

biz.yahoo.com
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