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Nortel reports steeper loss, to cut jobs

Wed Feb 27, 2008 6:29am EST

TORONTO, Feb 27 (Reuters) - Nortel Networks Corp NT.TO NT.N reported a steeper fourth-quarter loss on Wednesday hurt by weak performances across most of its divisions and said it planned to slash 2,100 jobs.

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North America's biggest maker of telephone equipment, said it lost $844 million, or $1.70 a share during the quarter, compared with a loss of $80 million, or 19 cents a share for the same time in 2006. ($1=$0.98 Canadian) (Reporting by Scott Anderson; Editing by Derek Caney)

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