Mike Zafirovski, president and CEO of Nortel, has begun speaking
to the
troubled network company's key customers to explain the
rationale behind yesterday's filing for bankruptcy protection.
In a statement on the company's
website,
he said, "Nortel is still very much in business and our commitment
to customers remains unwavering. We will continue to invest in
leading edge R&D to deliver the value our customers expect from
us."
As
Computer Weekly has previously reported, Nortel said it would
continue to provide the network infrastructure for the 2012 London
Olympics, and the Olympics in 2016.
Zafirovski said the company would be looking at how to reduce
its high cost structure, buthe was personally committed to
customers and Nortel would continue to develop cutting-edge network
infrastructure.
"I am convinced that by choosing this path at this time, we can
put Nortel on sound financial footing once and for all. It will
allow us to deal decisively with our cost and debt burden,
restructure our business and narrow our strategic focus in an
effective and timely manner."