RESEARCH TRIANGLE PARK, N.C. — Mike Zafirovski, chief executive officer of Nortel, has volunteered to take a 29 percent cut in his pension benefit, Nortel said in a regulatory filing with the Securities and Exchange Commission.

The agreement with Nortel’s compensation and human resources committee will reduce his annual benefit to $355,000 from $500,000.

Nortel disclosed the decision after the company announced layoffs of 1,900 people and reductions in retirement and pension benefits last week.

Nortel: www.nortel.com