TORONTO (Reuters) – When Nortel Networks Corp (NT.TO) reports its quarterly results on Monday, the focus is likely to fall on the top line as investors look to see how well sales at the ailing telecom equipment maker are holding up in the global economic meltdown.

Nortel, which filed for bankruptcy protection from creditors in January, has seen its revenue tumble as telecom companies and other big corporate clients cut spending on network and telephone gear that the company makes.

Earlier this week, Nortel made good on its pledge to slash more jobs, cutting 3,200 employees around the globe. Mike Zafirovski, the company’s CEO, also didn’t rule out more cuts.

Since a bevy of one-time charges and restructuring costs will likely affect Nortel’s bottom line, revenue, as well its gross and operating margins, will take center stage.

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