Nortel's Pension Fallout
One British newspaper reports that Nortel's U.K. pension scheme is to be placed into the government-backed Pension Protection Fund, which deals with the retirement funds of failed companies.
According to the story in The Times, Nortel's U.K. pension fund has a deficit of about £1 billion (US$1.45 billion).
So now the list of worried people extends to some of those that already jumped ship.
— Ray Le Maistre, International News Editor, Light Reading