Tencent Tech, 1/15/09
An employee at Nortel China has confirmed that its parent company Nortel Networks has applied for bankruptcy protection, but that Chinese operations would continue as normal. No news of large-scale layoffs at Nortal China has been reported, but low-key layoffs are in progress.
A former Nortel employee stated that company benefits have dropped significantly, and many former colleagues had already left the company. Staff at Nortel China numbered less than 5,000 at the end of 2008.
Editor's Note: Nortel China recently announced a series of management changes in the China Region. For more background, please see "Nortel Announces Greater China Management Changes", MD 1/14/09 issue.