Nortel Networks is trimming costs on both sides of the aisle--cutting about 1,000 jobs and trimming business operations costs such as pension-plan contributions. Yet at the same time, the Canada-based telecom equipment and software vendor is also adding jobs, just not in the U.S. or Canada. It's boosting staffing by adding about 800 jobs in their Mexico and Turkey operations bases. While the cost reductions should save between $1 million to $2 million a year, industry analysts and pundits aren't satisfied it's enough to get Nortel into a more competitive position.

For more on Nortel's moves:
- take a look at this article at from The New York Times