As its remaining employees face an uncertain future, it seems insulting that Nortel is going to hand out more bonus money to even more executives. In the latest installment of the Nortel bonus saga--one that was given the green light in the fall--Nortel will pay an aggregate of 72 higher-ups a total of $7.5 million.
Through this process, Nortel will be handing out $500,000 or more each to 14 executives. Included in this group is company treasurer John Doolittle, an executive that has had the daunting task of running Nortel since former CEO Mike Zafirovski finally left the company.
Adding even more insult to injury, Zafirovski's presence continues to loom over Nortel as he remains a creditor with a $12 million claim.
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