Will Nortel's cost cutting work?

Nortel networks is in a pickle, as it reported its seventh loss in the last nine quarters. It's embarking on a massive cost-cutting strategy with the goal to cut costs by $1.5 billion over the next two years. The Wall Street Journal gives a good rundown of the pros and cons, as analysts are mixed about the move.

For more on the ailing company:
- read about Nortel's plan in the Wall Street Journal (sub. req.)