Nortel Cuts 200 Jobs in China
Nortel Networks Corporation (OTC: NRTLQ and TSE: NT) has reduced about 200 jobs in China, as part of its global 3,200-employee layoff plan announced in February 2009, according to Nortel Networks (China) Ltd.
The global job cut is expected to end in several months, but it is not clear whether more employees in the country would be dismissed. In part of Nortel’s earlier 1,800-employee layoff plan, a certain number of employees in China were fired. By far, the company’s China-based staff has had over 4,000 employees.
On January 14, the global telecoms equipment provider filed for bankruptcy protection, due to a credit squeeze and a sales decline. And it is set to shut most of its R&D centers over the world, only retaining those in Canada and China.
In addition, Nortel has established four subsidiaries in China for production and technological services, as well as two cutting-edge R&D centers in Beijing and Guangzhou.