Rumours abound that Canadian based Nortel Networks - makers of lots of switches and network devices - may be about to file for the Canadian equivalent of Chapter 11 bankruptcy protection and receive a Government bail-out.
Not sure how many jobs Nortel have in the UK but if it happens there could be quite a few job losses I imagine as they have a few offices here.
Update: It started going wrong for their share price in a big way in September. $12 a share to about 40 cents in just 12 months. Wonder if Brown visited the offices?
UPDATE II: 11:33am Ottawa Citizen reports "Nortel to seek bankruptcy protection" referencing a report in the Globe and Mail.
UPDATE III: Am thinking this will mean quite a few jobs in the UK for sure.
UPDATE IV From comments. The Brown Curse took ten years