Nortel Networks Widens Losses

February 27, 2008 2:15 PM |

Nortel Networks Corp. (NYSE: NT) widened fourth quarter losses to $1.70 per share from 19 cents per share in the year ago period due to restructuring charges and announced that 2,100 jobs will be eliminated in an effort to trim costs.  Shares of the telecommunications equipment maker fell $1.52 to close at $9.93.

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