Pensioners fight back in bankruptcy

Nortel workers protest for legislative changes
By Sarah Dobson
|Canadian HR Reporter|Last Updated: 11/01/2009

With a rally at Queen’s Park in Toronto and another expected in Ottawa near the end of October, employees and former employees of Nortel are voicing their frustration and anger with the provincial and federal governments when it comes to the loss of pensions, severance pay and benefits after bankruptcy.

Nortel was granted creditor protection in January, saying it planned to restructure, and in June announced it no longer planned to continue operations and would sell off business units.

“It was the crown jewel in Canada’s telecom and technology crown and a decade of mismanagement and fraud has brought it down to its knees,” said Michael Campbell, a member of the Nortel Retirees and former Employees Protection Canada (NRPC) steering committee. “This can happen to anyone, any reasonably sized company.”