Companies / Canada
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Nortel Networks Checks Into Strategic Rehab
May 2006 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Troubled Canadian telecoms equipment vendor Nortel Networks has outlined plans to turn its business around, in a detailed strategy outlined by its chief executive Mike Zafirovski, who took the helm of the company six months ago. The announcement came as the vendor disclosed its financial expectations for the first quarter of 2006, stating that losses could amount to more than the US$48mn lost for the same period in 2005, while revenues would remain flat at best. However, these were put down to adverse currency movements and growth-related expenses, which offset productivity gains and efficiencies.