Nortel Networks Bankruptcy

Feb 3, 2009 Tue0Unemployment

Recently my life took a new direction and I think I will blog about my transition. Maybe something I say will help someone and maybe someone will have some good advice for me.

After 27.5 years with Nortel Networks I was laid off in early December 2008. Nortel has been laying off people since the dot com bust and I had been expecting to be impacted for years. I was not angry or bitter. I understood the reasons. The severance package was very good. I had salary and benefits until Sep 2009. They even contracted with a firm to help me polish my skills and resume to find another job. I relaxed during the holidays and planned to crank up the job search in January.

Then on Jan 14, 2009 Nortel declared bankruptcy. No more severance checks immediately and no more medical benefits after Feb 6. As you can imagine those of us who are ex-Nortel people on severance were pretty shocked. We were counting on the severance pay to help us through the recession. I expected a Nortel bankruptcy in late 2009 but not now.

I could say it is not fair but that does not change the reality. Since I had been expecting this for a while, I had made some preparations. I will share more later.

One of the Best Days of my Working Career




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