CTO, 3 other execs ‘restructured’ out of Nortel

Nortel had a bad third quarter and announced plans to lay off 1,300 of its workers. Among those leaving are CTO John Roese, Chief Marketing Officer Lauren Flaherty, Global Services President Dietmar Wendt and Executive Vice President Global Sales Bill Nelson. Nortel has seen this coming for at least a couple of months. Some analysts are skeptical of Nortel’s chances in a down economy, with one observer saying “Nortel doesn’t make it out alive.”