Nortel Networks expects ’slower overall market growth’ of about 1...
Nortel Networks expects “slower overall market growth” of about 10% in 2001, company announced in revised guidance late Wed. New forecast is based on expected U.S. economic downturn, Nortel Networks CEO John Roth said. As result, Nortel said it…
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plans to increase number of layoffs to 10,000 this year. Growth in revenue is expected to top fiscal 2000 by 15%, Roth said. Company expects $6.3 billion revenue in first quarter 2001.