Nortel Insider – by Desk Jockey

The view from one Desk Jockey

The bankruptcy option

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One thing that’s been vastly debated lately is whether Nortel will declare bankruptcy. We have no idea what this will mean for the majority of employees – will those that are laid off get severance? Or suddenly when it’s receivership are all these “non-essential” payments suspended? Surely some employees will have to be kept around. But the sudden bankruptcy of Lehman Brothers and the many thousands who suddenly showed up that day to find themselves unemployed and their employer’s net worth reduced to mere pennies is scary: Could this be the model of how Nortel will turn out? One would certainly hope not.

There are many who have been loyal employees of this company for 10-20 years (including some of us), and it is painful to see this company going through what may be its death pains.

Written by Desk Jockey

November 13, 2008 at 11:00 pm

Posted in Uncategorized

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