"Sounds like they are preparing for a sale, not saving costs,” says the pullquoted analyst in the Wall Street Journal today. Nortel's 1,300 layoffs, at 18 percent of headcount, would seem pro forma if they didn't include CTO John Roese, whose blog documented the company's efforts to turn itself around. Roese typed up "My Final Blog Post" yesterday. As a going-away present, I've 100-worded his weepy-but-brave essay. His point becomes much more obvious:
Well, it's been an interesting 28 months here at Nortel for me. All functions and resources (other than a few corporate activities) will be decentralized and integrated into full business units. The central CTO and R&D functions will be divided and moved into each BU and, as such, my role is no longer needed. I am comfortable with this direction. I was brought into Nortel to help correct many years of neglect on R&D. I believe that has been accomplished. In the new formation, the global CTO role is not necessary. I am, as many of you know, an optimist.