Nortel = Bust

[paulr33]

they have filed for bankruptcy

i wonder who is next in the telecommunications world...

[rs73]

seriously??? my sis in law works @ Nortel...

there's been talk like she's been waiting for the severance package as she's been there for a while...

but she hasn't got the sack yet... and still working on a few projects... smaller projects...

if it's bankruptcy then there's no package????

[rs73]

Alright,..... confirmed the news...

media dramatization... same like woolworths stuff...

Nortel filed for bankruptcy only affects USA, Canada and Europe

in Australia and Asia business still as usual, at least for the time being...

[khunjeng]

Alright,..... confirmed the news...

media dramatization... same like woolworths stuff...

Nortel filed for bankruptcy only affects USA, Canada and Europe

in Australia and Asia business still as usual, at least for the time being...

lol if u think so

Nortel has no busines here anymore = dead.

the ditched their WiMAX business last year which was the sign they were over.

Bye Bye...

[rs73]

It's not that I'm thinking that way... I was just relaying to you all what my bro told me as his wife (my sis in law) is still working in Nortel St Kilda Rd at this very moment.

Beside what Nortel do or don't doesn't really concern me... my sis in law ACTUALLY was hoping to get severance... everyone in Nortel IS hanging around waiting for the company to sack them first rather than looking. A rather risky move if the company went under then there is no fund to pay off the severance package... so it's a gamble for them...

[RBPOWA-(TJ)]

who's Nortel ??

[rs73]

Nortel Networks.

www.nortel.com

she's had this for long time, she used to work for Hutchison telecom, working on the 3g network, then they ditch it and not really into it, although apparently they do launch the brand "3" on 3G network, so I wasn't clear what's the deal with hutchison giving up or letting go on some big projects...

so then after hutchison she works for this Nortel, and now things are looking gloomy too... poor her...

[paulr33]

from all the companies going bust i have seen

the staff are the last to get paid

id tell your sister in law to get out now

[Phatboy]

C'mon, everyone saw this coming years ago when Nortel started to overextend itself. Acquiring small revenue companies for huge sums of money without the management to go with it would always end badly.

[HEKT1K]

i didnt know the name existed in Aus. ive been at uni recently (summer semester, dedicated i know) for an evidence law unit and we studied a case where a woman who had worked at Nortel was murdered, in the midst of her job being threatened. perhaps this announcement was many years in the making.

http://en.wikipedia.org/wiki/Kathleen_Peterson

so anyway.. what will this mean for us exactly?

[khunjeng]

i didnt know the name existed in Aus. ive been at uni recently (summer semester, dedicated i know) for an evidence law unit and we studied a case where a woman who had worked at Nortel was murdered, in the midst of her job being threatened. perhaps this announcement was many years in the making.

http://en.wikipedia.org/wiki/Kathleen_Peterson

so anyway.. what will this mean for us exactly?

Funny enough I had a meeting with their senior australian mgt scheduled for Monday...maybe I'm paying for lunch this time? I will be able to pick up some good comss guys cheap however..which is great for me.

[rs73]

What is WiMax by the way?

[krzysiu]

Like Paul said, employees will be the last to get paid. She might end up getting nothing at all if there isnt enough money after they pay out their shareholders (which have priority over staff for payments). Tell her to get out now.

[KamikazeR33]

lol hutchinson aka orange aka 3 in aus. almost got sent to chapter 11 by sol trujilo.

alot of companies everywhere will b finding the pinch. u can c that in airfares that jumped up $50 in a day this week

[rs73]

Like Paul said, employees will be the last to get paid. She might end up getting nothing at all if there isnt enough money after they pay out their shareholders (which have priority over staff for payments). Tell her to get out now.

Well she said if she lost her job then she'll just stay home and not to bother finding other job and start having babies...

[Taso84]

from all the companies going bust i have seen

the staff are the last to get paid

id tell your sister in law to get out now

Actually no... Staff are generally not the last to get paid under Australian bankruptcy rules. In the US its a different story. Best advice for ur sis is to start looking for other jobs but by no means quit. There is a good chance of a severance package especially if the company begins to restructure itself.

[khunjeng]

What is WiMax by the way?

its 4G technology based on OFDM, LTE which will overlay telstra's NextG network next year is very similar and in fact they will converge. It willl only be a niche broadband technology for Aus. I'm doing some deployments with it. I just did an interview with ZNet and some other online technology news poeple last week maybe it will be released one once I ok the content.

As it happens Nortel lead the R&D of this with Nokia, Alcatel and a Motorola. Only Nokia and Alcatel remain serious players in Australia closly following by CISCO in this domain...Ericsson is pure 3G/LTE here and globally.

[W0rp3D]

Like Paul said, employees will be the last to get paid. She might end up getting nothing at all if there isnt enough money after they pay out their shareholders (which have priority over staff for payments). Tell her to get out now.

I think you will find that law changed a few years ago when companies were closing down and all the heads were getting paid out and no one else, i think you will find now that employee's entitlements are one of the first to get paid out deoending on how much money the company actually has.