Stories by Peter Sayer and Jim Duffy

Nortel to lose $19.2b in Q2 and cut 10,000 more jobs

Nortel Networks Corp. forecasts a quarterly net loss of around US$19.2 billion, and a net loss on operations of $1.5 billion based on revenue from continuing operations of $4.5 billion in the second quarter of 2001, the company said Friday. The company also said it plans to cut 10,000 more positions by September, bringing the total headcount reduction for this year to 30,000.

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