October 3rd, 2002 Musical Chairs
For those of you who know of my employer and are wondering, when the music stopped after this last announced round of layoffs, I still had a chair. Thus far, I’ve wound up with a chair through 5 or 6 major rounds of layoffs, as they’ve pulled out 65,000 of the 100,000 chairs. Perhaps I’ll make it through that last round and get to turn out the lights.
October 4th, 2002 at 6:24 pm
Don’t answer this if it compromises you in any way, but do you reckon there will be a buyout before that eventuality?
October 4th, 2002 at 6:41 pm
Rumours abound, that’s for sure. It certainly seems like the industry has to consolidate… which won’t end up making consumers happy, but the current competitive landscape in telecom is not sustainable without a fresh influx of capital. Regarding acquisition, Nortel is challenging due to our (still) broad portfolio and our debt. Currently, there has not been one whiff of desire on the part of our upper management to divest a couple of the lines of business to free up the rest for acquisition.