Investing
Nortel (NT) Turns 1,300 People Out Into The Cold
Published:
Last Updated:
It is cold in Canada this time of year and for some people it will get colder. One of the nation’s largest companies, Nortel (NT), will dump 1,300 people and freeze salaries as it fights for its life. Telecom equipment providers like NT and Alcatel-Lucent (ALU) are punting employees are a remarkable rate.
Nortel posted a third-quarter loss of $3.4 billion, or $6.85 per share, compared with a year-earlier profit of $27 million, or $.05, and it cut its earnings estimate.
Chief Executive Officer Mike Zafirovski who was bought in to save the company has not done a terribly good job. The stock is down from a 52-week high of $19.42 to $1.17. It is a good bet it goes lower today.
Douglas A. McIntyre
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.