No, I don't think many Nortel retirees are saying that they will lose 40% of their pension, if retirees on long-term disability are excluded. We, of course, are losing everything. However, retirees who are 65 years of age and over or who retired because of their age are not so badly off. At the same time, it certainly is unfortunate that they will lose 20%.
On April 13th, 2010. See this statement in context.