Nortel execs have to cope with massive bonus payout!

by Guest on December 3, 2009

nortel-cash1 When I grow up, I want to be on the board of a ginormous Canadian company.  A company so big, that when we go bankrupt, they are still able to pay me millions of dollars in severance and or bonuses.  Right before Christmas…It could be named the Nortel Noel Package, designed to inspire the icy souls of Canadians throughout the world.

This week it was announced that 72 Nortel execs are going to share in $7.5 million, while others are going to have their salary bumped by $500K.  The poor guys.

Maybe these folks are being rewarded for successfully selling off the company’s assets.  Maybe they are just celebrating the recent GSM sale for a mere $70 million, or maybe it’s the $1.13 billion acquisition to buy their LTE technology.  Whatever the reason, these poor souls are going to have to suffer through Christmas this year, with nothing but pockets full of cash to keep them warm.  I wonder if they need to hire anyone to help them carry around the extra money.

Written by: Jason Finnerty. Follow by: RSS, Twitter,, or Friendfeed

{ 1 comment… read it below or add one }

Joel December 4, 2009 at 10:04 am

Absolutely disgusting! To pay people so much money to tear apart a company to pieces, and not recognize the hard work of people who worked under them is abhorrent.

Geez….I can do that too. Where do I sign up? 🙂

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