Nortel announced that its revenues will fall by 2%-4% in 2008, due to lower carrier capex and a global economic downturn. It forecasts now 3Q08 revenues of $2.3bn, vs $2.7bn before. It is now reviewing its business in order to find ways to cut costs and could sell its Metro Ethernet Networks unit (including optical and carrier Ethernet portfolios). Nortel is mulling to concentrate only on the Enterprise market!!
ALU' seventeen unions are asking former directors Patricia Russo and Serge Tchuruk not to accept any "golden parachutes".