Nortel Insider – by Desk Jockey

The view from one Desk Jockey

The view on layoffs

with one comment

While layoffs are generally a bad thing, the view amongst coworkers we’re familiar with is that there were not enough layoffs this time around.  Remember, this is coming from an environment where 60,000+ have lost their jobs in the past 8 years or so.  Why is this?

For one thing many believe drastic restructuring is necessary for survival.  Others just want a severance package.  Either way, though it may be odd that employees themselves want more layoffs, when one analyzes the situation it becomes clear that this may actually benefit the employees more.

Of course there are negatives.  No one likes to move and change jobs and many have families.  Moving is never easy especially if there are young ones to take care of.  

So why did Nortel not layoff more employees? The simple and scary answer may be that there isn’t enough money left for mass layoffs.


Written by Desk Jockey

November 14, 2008 at 5:23 am

Posted in Uncategorized

Tagged with ,

One Response

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  1. My group was eliminated in 2007. Boy, was that a lucky break for me. I had a new progressive job in a profitable industry in 3 weeks. Double dipping while I could.
    I finally got my pension 3 days before the stock market dropped virtually wiping out my pension. My NT stock went from $56K to something which could not buy a new refrigerator.
    There is life after Nortel. Don’t wait for a package if you have offers go now….the pension is underfunded and severance may be drastically cut. There isn’t enough cash to lay people off.
    The reduction in stress and wondering what will happen next should lengthen your life. The middle to late baby boomers aren’t retiring early if at all so it might as well be at a better job with a better, brighter future.
    I miss my friends and the truly gifted people at Nortel but the time has passed for things to turn around.

    Laidoff in 07

    November 26, 2008 at 1:36 am

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