The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
2,900 jobs Number of planned job losses
Announcement Date
7 February 2007
Employment effect (start)
1 June 2007
Foreseen end date
31 December 2008
Description
The Canadian telecommunications group Nortel Networks announced on 7 February 2007 the second big round of job cuts that is to take place in Canada and France. The company has decided to cut 2,900 jobs between June 2007 and December 2008. In Ottawa, around 500 of the 5,000 employees could face cuts as Nortel eliminates 12% of its 33,500 workforce through layoffs and transfers of jobs to India, China and Mexico over the next couple of years. Job cuts are explained by the slowing down of growth in equipment spending.
Sources
8 February 2007: Les Echos
8 February 2007: La Tribune
Citation
Eurofound (2007), Nortel Networks Corporation, Internal restructuring in World, factsheet number 64922, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64922.
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