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Nortel sees no further job cuts at present -CEO
TORONTO |
TORONTO Aug 1 (Reuters) - Nortel Networks Corp NT.TO NT.N says the telecom equipment industry is ripe for consolidation and that it has no plans for additional job cuts as the global economy slows down, its chief executive said on Friday.
"We think ... consolidation would be good for the industry and for customers," CEO Mike Zafirovski told Reuters. Asked whether Nortel plans to reduce its head count to cut costs, he added: "There's no restructuring announcement planned as of now." (Reporting by Wojtek Dabrowski; editing by Peter Galloway)
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