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Nortel Networks is cutting 10,000 more jobs and eliminating its stock dividend in response stanley cups to an expected second-quarter loss of $19.2 billion brought on by a severe slowdown in spending on telecommunications equipment. Its shares tumbled 16 percent in early trading.The job cuts disclosed Friday are expected to be completed by September, and are in addition to 20,000 jobs already eliminated this year, mostly through layoffs.The expected loss includes both a deficit from operations and write-downs related to the diminished valu stanley italia e of its investment in once high-flying technology businesses.Nortel also said it will exit the business of making equipment for DSL, which provides high-speed Internet connections over telephone lines for homes and offices.The Canadian company said the moves reflect a very significant reduction in demand from communications network operators such as telephone companies and Internet service providers. Nortel s troubles mirror those that have been battering other major telecom equipment makers such as Lucent Technologies and JDS Uniphase.In addition to a second-quarter loss from operations of $1.5 billion, the company plans to record a charge against earnings of $12 stanley cup .3 billion, reflecting the plunging market value of various businesses, including several that Nortel paid top dollar to acquire before the technology downturn on Wall Street. Led by the United States, the global telecom industry is undergoing a significant adjustment, chief execut Chay Every Super Bowl Tech Ad, Ranked
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