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To: Libbyt who wrote (5815)	9/7/2001 2:08:25 PM
From: Augustus Gloop	Read Replies (1) \| Respond to of 10077

Nortel CEO Sees Another Year of Drought CALGARY, Alberta (Reuters) - The head of Nortel Networks Corp. (NYSE:NT - news; Toronto:NT.TO - news) said on Friday that the troubled maker of telecommunications gear has ``at least 12 months of drought'' ahead, but ``resizing'' of the company was running ahead of schedule. Speaking to a round table in Calgary, Nortel chief executive John Roth said the main challenge for Nortel was to reach a size where it can break even. It was not clear when the battered tech sector would rebound, he said, and spending could fall further from current levels. ``It will stay this way for some time, maybe go a bit lower. The challenge we are having is how do you get sized for breakeven,'' he said. Nortel, which reported a massive $19.2 billion loss in the second quarter, has cut about 30,000 jobs this year.