[January 14, 2009] Nortel Networks Greater China President Jackson Wu Retires Tweet BEIJING, Jan 14, 2009 (SinoCast Daily Business Beat via COMTEX) -- Nortel Networks Corporation (NYSE: NT) recently said that Jackson Wu, former president for the Greater China region, was permitted to retire, effective December 31, 2008. In addition, Nortel Networks has accomplished structure adjustment in the Greater China region, part of the New York-listed company's global structure regrouping. The telecoms equipment maker incurred a loss of USD 3.4 billion, or USD 6.85 per share, in July-September 2008, the quarterly highest in the past seven years. Sales in the three months slipped to USD 2.32 billion, compared with USD 2.71 billion in the same period of 2007, according to the Q3 financial results unveiled at 2008-end. The company also announced a plan to cut 1,300 jobs. Days ago, Chinese telecommunications equipment provider Huawei Technologies Co., Ltd. was said to make a tender offer for the USD 2 billion Metro Ethernet Networks business unit from Nortel Networks. Source: dycj.ynet.com (January 14, 2009) [ Back To TMCnet.com's Homepage ]