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30,000 jobs to be cut globally...
By Mark Graham
Published: 1 August 2001 16:03 BST
Nortel Networks announced it has axed 350 jobs at its fibre-optics plant in Devon.
The move is part of the Canadian company's plans, announced earlier this year, to reduce its global workforce by 30,000.
The job cuts mean that a total of 2,300 redundancies have been enforced at the Paignton factory so far this year.
Last month Nortel reported a $19.4bn second quarter loss, including acquisition write-offs, which reflects the company's current status.
The company, which is the world's largest maker of telecoms products, still employs more than 8,000 personnel at its laboratories in both the UK and Ireland.
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