There is no doubt about the fact that when this crisis will be over lot of big tech names wont be there with us. And Nortel Networks, the Canadian Networking Giant could be one of those. RBC Dominion Securities Inc. has slashed Nortel’s share-price target to $0.
To come up with some cash the company has put up its metro ethernet networks division up for sale and has announced that it would be laying off 1,300 employees. The company has also suspended dividend payments on preferred shares, cut back on R&D and other general costs.
