<p><a href="http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20081110/bs_nm/us_nortel"><img src="http://d.yimg.com/us.yimg.com/p/nm/20081110/2008_11_10t064654_450x298_us_nortel.jpg?x=130&y=86 &q=85&sig=QAosJOyKl1OlIycN_T.PpA--" align="left" height="86" width="130" alt="A Nortel sign is seen in downtown Toronto February 27, 2008. (Mark Blinch/Reuters)" border="0" /></a>Reuters - Nortel Networks Corp reported a large quarterly loss and announced a round of sweeping cost-cutting on Monday that includes laying off 1,300 another people as the economic downturn eats away at its business and strains its balance sheet.</p><br clear="all"/>

View the entire article: Nortel sets sweeping cost cuts, posts big loss
(Reuters)