Nortel Networks to cut off 255 jobs in Zurich

Nortel Networks, the largest telecom equipment manufacturer, announced to cut off 225 jobs in its subsidiary located in Zurich, which account for 56% of workforce of the subsidiary. In February, Nortel Networks took over the subsidiary from JDS Uniphase at the cost of US$2.92bln. The job cut is a part of large-scale business restructuring of the company. According to the restructuring plan, the company will cut 30000 jobs all over the word.

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