Nortel is Melting Down
Nortel filed for bankruptcy at the beginning of this year and now selling its assets. Nortel lately dealt with Nokia Siemens Networks to sell its CMDA and LTE business for 650$ million .
Nortel Files For Bankruptcy
Nortel filed for bankruptcy Wednesday. There are various comments about it, some people say it is end of Nortel, others say it is a opportunity for Nortel to take a breath.
Why am I so involved about it. Because I am a Netas employee. Nortel owns %53 share of Netas. Also it is known as Nortel / Netas in Turkey. Situaton still so blurry among Netas employees. Nobody has clear ideas about future. But it will be more clear in a few weeks. According to news, Nortel will give up hardware gradually and will focus on software development. Also Netas mostly works on Nortel’s software products like Adaptive Application Engine (successor of AS5200). For this reason, employees in Netas are not very pessimistic about situation.
According to incoming mails, this is not an end, this is a starting. Nortel plans to go a restructuring. But decrease in Nortel stock prices continues for last ten years, if this decrease is reversible why did they wait until close to end.
May be next week we will be a member of army of the jobless who knows 