AT&T Corp. is cutting 7,400 more jobs and slashing the book value of its assets by $11.4 billion, drastic moves prompted by the company’s plan to retreat from the traditional consumer
telephone business following a lost court battle.
The company announced Thursday that it now plans to shrink its work force by a fifth, or about 12,300 jobs, during 2004 — up from a previous target of about 4,900 jobs.
About 9,000 of the people affected have already left the company or been notified. AT&T now expects to finish the year with about 49,000 workers, down from nearly 62,000 at the start of 2004.
Severance costs and other expenses related to the job cuts will reduce third-quarter earnings by $1.1 billion, the company said.
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New Delhi, Oct. 7:
Post-paid mobile telephone subscribers will now get itemised bills for long distance calls (STD) free of charge.
The Telecom Regulatory Authority of India (Trai) today made it mandatory for the operators to provide itemised STD bills free-of-charge if any customer requests for the same.
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The leaders of BellSouth Corp. and SBC Communications Inc. said Wednesday they are not interested in acquiring big
long distance carriers, Dow Jones Newswires reported.
Speaking at a Goldman Sachs conference for media and telecom investors, SBC CEO Ed Whitacre said he would wait for the stock prices of the long distance companies to further fall before considering any deal, the news service reported.
„I wouldn’t say at some price you wouldn’t do something, but it’s certainly not in our plan now,“ Dow Jones quoted Whitacre. BellSouth CEO Duane Ackerman said declining telecom and data revenue in the market for large corporations makes him wary of acquiring a long-distance provider, Dow Jones reported.
Analysts say the regional Bells are likely to eventually make a bid for long-distance carriers AT&T Corp. and MCI Inc., but BellSouth and SBC are busy seeking to close the $41 billion acquisition of AT&T Wireless through their joint venture, Cingular Wireless.
by Beth Young
HTT staff
Closing the gap between hundreds of miles, the technology of the Hill video
teleconference center Monday brought together retired Col. Earl Young, and Scott AFB, Ill., where a conference room was named in his honor.
The 91-year-old Salt Lake City resident was the first commander of the 18th Air Force, then located at Donaldson AFB, S.C. and now located at Scott. He served in this position from March to May of 1951, before becoming the Assistant Chief of Staff of 18th Air Force.
Hosting the event at Scott AFB was the current commander of 18th Air Force, Lt. Gen. William Welser.
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