Wall street : Nortel Networks falls down of nearly 33%

The companies in the sector of telecom or computers are suffering severely at the moment at the Stock Exchange. After Sema Group, Stone Soft on this year beginning, another big group set up in Sophia Antipolis has suffered a lot on this Friday February 16th 2001 : Nortel Networks, the world giant of optical fibre equipments for the telecommunication networks. At the opening of Wall Street, the security faced a complete collapse falling to 20 dollars (- 32.77 %) in a few hours. A descent into Hell that can be explained by the announcing of the impact on sells and profits of a slow down of the American growth yesterday evening more important than expected. Since January 19th, the Nortel Networks security has fallen of 50 %. As a consequence of this collapse, Nortel Networks announced they will lay-off more than expected initially : 10 000 jobs against 4000 before.