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Nortel to cut 7,000 jobs

Published on .

Brampton, Ontario--Canadian telecommunications equipment-maker Nortel Networks Ltd. said it would cut another 7,000 jobs. Nortel, which employed 95,500 at the end of 2000, now expects to have 35,000 employees by the start of next year. The company said it expects to return to profitability by June 2003.
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