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Nortel sees bigger loss, 10,000 more layoffs

Nortel sees bigger loss, 10,000 more layoffs

Nortel Networks said Friday it will report a much larger-than-expected loss in the second quarter and lay off an additional 10,000 workers.The telecommunications equipment maker said it will report a loss from operations of 48 cents a share on sales of about $4.

June 14, 2001 by in Tech & Work

Commbank exits EDS Australia holding

Commbank exits EDS Australia holding

The Commonwealth Bank of Australia has sold its 35 percent stake in Electronic Data Systems' (EDS) Australian operation back to its outsourcing partner.EDS issued a brief statement saying the timing of its reacquisition of the equity holding from CBA was "a measure of the maturity of the ...

April 20, 2005 by in Tech & Work