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Big Quarterly Loss for Nortel; Shares Are Down 25%...
Submitted by admin on Tuesday, November 11, 2008 - 11:05

Last Modified: Tuesday, November 11, 2008 at 4:08 a.m.

OTTAWA — Nortel Networks, the telecommunications equipment maker, posted a third-quarter loss of $3.4 billion on Monday and said it planned to reduce its work force by about 5 percent.

The company, which is still struggling to recover from the technology downturn early in this decade, said the loss came to $6.85 a share ...


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