Nortel Insider – by Desk Jockey

The view from one Desk Jockey

Nortel expected to file for bankruptcy protection

with 2 comments

monopoly-bankruptcy-endMy friends, unfortunately the tragic story of the decline of Nortel may be entering the beginning of the end.  The question marks from yesterday’s reports have been removed.  According to a report from the Globe and Mail this morning, Nortel is expected to file for bankruptcy protection as early as today. We assume this means Chapter 11 in the US and CCAA in Canada.  

This was not unexpected, as we started this blog back in November to document the seemingly rapid development and downfall of this one-great company.  We do not welcome this occurrance and we are quite upset to see it come to this, but nevertheless, all the signs of the recent past pointed to this inevitable outcome.  Despite all the reassurances, denials and disinformation from management, the truth has finally come out.  And it is not pleasant.

It’s quite early right now, but we have no doubt that many Nortel employees have had a sleepless night, waiting up past the end of Tuesday wondering about their future.  Rising early this morning, like many, we were hopeful but ultimately our fears were confirmed.  To all Nortel employees out there, we have these words of encouragement: While this end might be tragic, and the results quite damaging, fear not – greener pastures await those who try hard and are true to themselves, whatever the climate.

All About Nortel has a blog post about today’s expected outcome.   Further developments are likely to be big and fast.  At this point, we’re unsure of our future.

Written by Desk Jockey

January 14, 2009 at 7:15 am

Posted in Uncategorized

Tagged with , ,

2 Responses

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  1. […] after the day after. But the present title seemed more fitting and succinct.  After Nortel’s spectacular collapse into bankruptcy on Jan. 14th (something that was denied again and again by management until it was required to be made known by […]

  2. […] the behavior of current Nortel employees, ourselves included, in the face of the current crisis and most recent news.  The five phases of Kübler-Ross model are as […]

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