Nortel to cut another 5000 jobs?

The rumor mill has it that Nortel will cut another 5000 jobs. See article here (in german). One wonders what the long term plans are of this company. At its high point, the networking and PBX vendor employed over 90,000 staff worldwide. Today it employs 32,000 and this might become quite a bit less, quite soon. One can only conclude that the traditional, non software based PBX is on the way out.