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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Wallace Rivers who wrote (744)	9/15/1998 2:05:00 PM
From: lib	Respond to of 14638

Northern Telecom Ltd NTL Shares issued 525,120,182 1998-09-14 close $70.45 Tuesday Sep 15 1998 The Globe and Mail reports in its Tuesday, Sept. 15, 1998 edition that Northern Telecom will eliminate about 3,500 jobs later this week in a bid to become more efficient as it focuses on the burgeoning Internet market. The Globe's Lawrence Surtees writes that Nortel says many of the reductions are in management ranks. The restructuring works out to 5 per cent of Nortel's global work force of 80,000 people. Nortel would not give out precise details until it notifies employees first, which it expects to do later this week. Nortel says none of the planned layoffs will take place at newly acquired Bay Networks, which employs 7,000 people, which underwent its own restructuring last year. Also, Nortel confirmed it is going ahead with plans to hire 6,000 more employees in Canada, most of them in research and development and marketing, by 2001. Nortel is transforming itself as part of its Webtone strategy to expand into all parts of the communications business related to Internet Protocols, or IP, markets. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: Wallace Rivers who wrote (744)	9/15/1998 2:13:00 PM
From: lib	Respond to of 14638

Was informed of the layoffs late last week and expected a further price decline along with the recent announcement from TLAB. Good friend works at Northern and he has told me that the merger is going quite well with the exception that Bay works primarily off of voice-mail (couldn't figure that one out) and Nortel off of email. Problems have arisen in amalgamation, but are now sorted out. A few weeks ago, a price like this would be to salivate over. Now? In the end, Nortel is pretty much one of thee biggest players in the Canadian economy, so writing it off would be like writing off the country. A nice investment at these prices for those willing to go long.