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Articles tagged with: Mike Zafirovski
Former Nortel CEO Submits Claim to Bankruptcy Court for $12 Million
Nortel's former CEO Mike Zafirovski has submitted a claim for over US$12 million from the company, with more than half going towards his company agreed pension. Zafirovski's claim, which has been filed with the U.S. bankruptcy court that's dealing with Nortel's restructuring, seeks "not less than US$12,250,543.48". more
Related Tags: nortel-networks, Canada
Nortel CEO Mike Zafirovski steps down
Nortel Networks reported a 25% drop in second-quarter revenues to US$1.97 billion, with declines in all segments and regions and increased by 14 percent from the previous quarter. The company reported a net loss in the second quarter of 2009 of US$274 million, compared to net loss of US$113 million a year ago. more
Related Tags: nortel, three, Canada
Nortel CEO Expected to Step Down Shortly
Nortel's CEO, Mike Zafirovski is expected to announce his resignation from the bankrupt company in the near future, people close to the matter have told both the Wall Street Journal and Financial Times. Nortel has declined to comment on the stories. more
Related Tags: nortel-networks, Canada
Nortel Gets Permission to Pay $45 Million in Staff Bonuses
Nortel Networks has received authorisation from the Canadian and US Bankruptcy courts to pay bonuses of US$45 million to its staff and managers. Eight of the executives will share up to US$7.3 million between them, as part of an overall US$23 million bonus program for 92 senior managers. A further US$22 million has been earmarked for 880 key employees. more
Related Tags: ptc, eu, iden, nortel, bankruptcy, hawaiian-telcom, lawyer, Canada
Nortel Reports Loss of $3.4 Billion - Cuts 1,300 Jobs
Nortel Networks has posted its largest loss in the past seven years and announced another round of job cuts after customers cut their investment plans. The company lost US$3.4 billion in the 3rd quarter of this year - which included a write down of US$3.2 billion, compared to a profit of US$27 million a year ago. Revenue in the third quarter of US$2.32 billion decreased 14 percent year over year and down 1 percent on a year-to-date basis. more
Related Tags: nortel, seven, tax
China's ZTE in Cooperation Talks with Motorola
China's ZTE is reported to be in talks with Motorola over a wider cooperation - which could presumably spark rumours about a possible merger of the two companies respective handset divisions. Speaking to Reuters, Xiong Hui, a marketing vice president for handsets said that ZTE was looking to deepen its relationship with Motorola. more
Related Tags: zte, nortel, samsung, lg, greg-brown
INTERVIEW: Nortel CEO Sees 4G As Opportunity to Leapfrog Rivals
So-called fourth-generation technologies such as WiMax and Long-Term Evolution which promise to deliver faster mobile broadband, have been a hot topic at the World Mobile Congress, in Barcelona this week more
Related Tags: mts, wall-street-journal, nortel, gartner, lte, edge, sharp, nortel-networks, arun-sarin, umts
Telecom Vendors Say 3G Disappointed, Promote Next Generation"
BARCELONA (Dow Jones) -- 3G is dead, long live 4G. Telecom-gear makers at the 3GSM trade show here on Thursday admitted that third-generation technology, or 3G, has failed to deliver on its promise of growth from an array of nifty new multimedia services. more
Related Tags: nortel, nortel-networks, wimax,
Nortel Chief Executive Insists Networking Giant Is 'back'
BARCELONA (Dow Jones) -- Still reeling from job cuts earlier this month and a key executive departure, Nortel Networks CEO Mike Zafirovski was on a charm offensive at the telecommunications trade show here this week, telling MarketWatch the worst is now behind the Canadian networking giant. more
Related Tags: nortel, verizon-communications, nortel-networks, chief-financial-officer, alcatel
Nortel Bets On 4G After Alcatel Deal, But Doubts Exist"
TORONTO -(Dow Jones)- Nortel Networks is selling its struggling UMTS wireless access equipment business to French rival Alcatel for US$320 million, highlighting Nortel's bet it can have better success selling next-generation wireless-network gear known as 4G. more
Related Tags: clearwire, nortel, nortel-networks, samsung-electronics, alcatel