November 10, 2008 / 2:01 PM / in 9 years

Nortel says several executives to leave in 2009

TORONTO, Nov 10 (Reuters) - Nortel Networks NT.TO NT.N said that several senior executives would leave the company in early 2009 as it strives to take all necessary cuts in the business.

Earlier on Monday North America’s biggest telephone equipment maker reported a large quarterly loss and outlined a round of sweeping cost-cutting that includes laying off 1,300 employees. ($1=$1.18 Canadian) (Reporting by Scott Anderson; Editing by Steve Orlofsky)

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