Nortel Cutting 3,200 Jobs

As projected in court filings, Nortel is cutting jobs as part of its restructuring in the bankruptcy process. Now there's a plan: The company just announced that 3,200 positions will be eliminated. The company says it's still working through the process of determining which of its sites will be affected.

In the Nortel announcement, CEO Mike Zafirovski is quoted as saying, "Tough decisions are being made to restructure the company and work towards a successful emergence from creditor protection."

Though the layoffs certainly occur in the context of the bankruptcy, Nortel is hardly the only company in the industry to cut workforce. Indeed, it would have been surprising if workforce reduction hadn't been part of Nortel's overarching plan for the restructuring that's taking place in the bankruptcy protection process.