February 4, 2009
As a Nortel customer, I understand you have important questions. My team and I have been able to speak to some of you personally over the last two weeks, but you've no doubt heard a lot about Nortel from a lot of different places. I would like to give you the simple truth about our recent restructuring announcement:
Most importantly, Nortel's day-to-day operation are expected to continue without interruption. Nortel filed for credit restructuring to deal decisively with our cost and credit burden so we can remain a viable company for the long term, and over the next several months, we will restructure our business for the future. Nortel is currently working with $2.4 billion in cash, which is sufficient to fund our operations through the restructuring process, and we are 100% focused on continued R&D investments and support for the Nortel product portfolio.
Please take a moment to read "Looking Forward in 2009", a brief overview explaining the strengths of Nortel's current position. You'll find statements of confidence from our customers and partners, sales growth information, industry recognition, and much more. We plan to emerge from this process as a more focused, financially sound and competitive company.
We are happy to answer any questions you might have. Please contact your Account Manager or call us at 1-800-4-NORTEL (1-800-466-7835). You can also find all the latest information on our restructuring plan at www.nortel.com/restructuring.
The success of your business is our #1 priority. I want to thank you for choosing Nortel, and for your continued support and loyalty. We look forward to working with you in the near future.
Warm Regards,
Joel Hackney
President, Enterprise Solutions
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