{"id":115063,"date":"2002-08-28T06:00:07","date_gmt":"1999-11-30T00:00:00","guid":{"rendered":"https:\/\/www.rcrwireless.com\/article\/20020828\/SUB\/208280703\/-1"},"modified":"2002-08-28T06:00:07","modified_gmt":"1999-11-30T00:00:00","slug":"nortel-to-cut-more-jobs-expects-10-drop-in-3q-earnings","status":"publish","type":"post","link":"https:\/\/www.rcrwireless.com\/20020828\/archived-articles\/nortel-to-cut-more-jobs-expects-10-drop-in-3q-earnings","title":{"rendered":"Nortel to cut more jobs, expects 10% drop in 3Q earnings"},"content":{"rendered":"<p>TORONTO-Nortel Networks Ltd. shares dropped on the news that the company plans to cut 7,000 jobs and it expects third-quarter earnings to fall by up to 10 percent, attributing the forecast to declining spending by mobile operators.<\/p>\n<p>&#8220;When ultimately completed,&#8221; said the company, &#8220;the company expects a workforce of approximately 35,000.&#8221; The company had about 100,000 workers two years ago.<\/p>\n<p>The company said it witnessed a 40-percent drop in business this year as its second-quarter earnings of $2.77 billion are a far cry from $4.61 billion a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO-Nortel Networks Ltd. shares dropped on the news that the company plans to cut 7,000 jobs and it expects third-quarter earnings to fall by up to 10 percent, attributing the forecast to declining spending by mobile operators. &#8220;When ultimately completed,&#8221; said the company, &#8220;the company expects a workforce of approximately 35,000.&#8221; The company had about [&hellip;]<\/p>\n","protected":false},"author":126,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"iawp_total_views":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[41],"tags":[],"class_list":{"0":"post-115063","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-archived-articles"},"acf":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/posts\/115063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/users\/126"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/comments?post=115063"}],"version-history":[{"count":0,"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/posts\/115063\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/media?parent=115063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/categories?post=115063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rcrwireless.com\/wp-json\/wp\/v2\/tags?post=115063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}