Adding injury to insult:
- Nortel could not all the paper work finished to have the bank receive funds from Nortel for US employees
- Most of us do not know when our last paycheck will come
- Most of us do not know if earned vacation will be paid
- All of us know that promised severance pay will not be coming
I guess Mike Z is really impressed by the tenacity and capability of the employees. He thinks we can pay our mortgages with air.
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I don't even know what to say.....still in shock.....and it just gets worse.
ReplyDeleteI guess Mike Z forgot about the millions of dollars Nortel paid to help him break his agreements with Motorola.
ReplyDeleteI guess Mike Z forgot about the millions of dollars Nortel paid to help him break his agreements with Motorola.
ReplyDeleteDon't know if people have seen this yet but it is truly making me pissed beyond belief:
ReplyDeletehttp://www.networkworld.com/community/node/37608?t51hb&nlhtspec=mr_012209&nladname=012209specialnl
Except is as follows:
"Yours truly was totally shocked to learn that Nortel CEO Mike Zafirovski was still using a private jet, especially six days after Nortel filed for bankruptcy protection. As the company lays off thousands of workers, halts salary increases, institutes a hiring freeze, and confirms laid off Nortel employees will not be receiving their severance payments because of the bankruptcy filing, Zafirovski continued to use a private jet (often it appears to commute between a home and his office). In my personal opinion, any leader who can do that while the company is crumbling around him:
Has got to go!"