Nortel sheds jobs

Telecoms equipment giant Nortel has said it plans to shed a further 3,200 jobs from its 31,000 staff worldwide.

Nortel’s UK Operation entered administration last month after its parent firm filed for US Bankruptcy protection.

The firm employs about 1,200 staff at its European, Middle East and Africa Headquarters in Maiden Head, Berkshire.

About 800 staff are also employed in London, Harlow in Wssex, north Lanarkshire and NewTownabbey.

The Canadian-based firm, which is a major sponsor of the 2012 Olympics, said the cuts were in addition to 1,800 reductions still to be implemented from previous plans.

It would not specify where the losses would take place but said they were part of a “business and financial restructuring plan”.

Mike Zafirovski, Nortel’s President and Chief Executive said, “There is nothing more difficulty than notifying employees and Nortel is extremely conscious of the personal financial burden this will cause affected employees and their families”.

Nortel said that these job losses would be made over “several months”.

You might also be interested in

Yoga and its benefits

The term “Yoga” is derived from the Sanskrit word “yug” which means to “join”. It signifies union between the individual soul and the universal soul. It aims at obtaining relief from pain and suffering. Basically, human evolution takes place on three different planes, namely physical, mental and spiritual. Yoga is a means of attaining perfect health by maintaining harmony and achieving optimum functioning on all three levels through complete self-control.

All yogic exercises should be performed on a clean mat, a carpet or a blanket covered with a cotton sheet. Clothing should be light and loose-fitting to allow free movement of the limbs. The mind should be kept off all disturbances and tensions. Regularity and punctuality in practising yogic exercises is essential.

Pranayama is the most effective yogic exercise. Prana means “vital force” and Ayama means “control” in Sanskrit. Thus, Pranayama means the control of the vital force through concentration and regulated breathing. By means of controlled breathing that is, inhaling and exhaling by holding the breath for a fixed time and changing the rhythm of inspiration and expiration, it is possible to influence the life-force in the body. Pranayama is the process by which such conscious control is achieved through controlled and rhythmical breathing.

You might also be interested in

Yahoo! in a loss

Yahoo! has reported a loss in the last three months of 2008 as the economic downturn hit sales of online ads.

Its figures showed a loss of $303.4m compared with a profit of $205.7m a year earlier.

But analysts had said that the company had weathered the downturn better than expected, with the loss mainly due to one-off costs.

The result come as Carol Bartz take over from Jerry Yang as the firm’s new chief executive.

Mr Yang stepped down following his rejection of a $47.5bn takeover offer from Microsoft last year, which rankled the company’s shareholders.

“The company made important investments while aggressively managing costs, leaving us better positioned to weather the economic downturn and emerge stronger when advertiser spending improves”, said Ms Bartz.

However, she gave a cautious outlook for the beginning of the year 2009. The company said its first quarter revenue will range from $1.53bn to $1.73bn, a decline from $1.82bn at the same time last year.

You might also be interested in