text: Nortel to Cut 3,500 Jobs to Boost Profits  OTTAWA (Reuters) - Nortel Networks Corp. &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=NT.TO target=/stocks/quickinfo/fullquote"&gt;NT.TO&lt;/A&gt; &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=NT.TO target=/stocks/quickinfo/fullquote"&gt;NT.TO&lt;/A&gt;  earned stock market applause on Thursday as it slashed more  jobs, released on-target profit estimates, and took steps to  clean up its accounting mess.