Nortel plans sale of Ethernet unit

09/18/2008 | Wall Street Journal, The · Bloomberg Businessweek

Saying that sales were eroding faster than anticipated, Nortel CEO Mike Zafirovski said Wednesday that the company would sell its promising Metro Ethernet division and institute a new round of layoffs. The company's stock, which had already been hammered this year, lost almost half of its value as analysts speculated if the equipment maker faced a possible breakup scenario.

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Wall Street Journal, The · Bloomberg Businessweek

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