Cingular to Cut 7,000 Jobs to Trim Costs After Buyout
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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force as a result of its purchase of AT&T Wireless.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut about 7,000 jobs and reduce the value of its assets by $11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.
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AT&T Corp.  will cut about 7,000 jobs and reduce the value of its assets by &#36;11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.
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AT&amp;T Corp., the largest US long-distance telephone company, will eliminate 20 percent of its work force this year and write down $11.
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ATLANTA - With the merger of AT&amp;T Wireless complete, Cingular is making plans to cut its 68,000-person workforce by 10 percent, the companyâs CEO told The Associated Press on Tuesday.
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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Sprint Corp. said Friday that it will slash as many as 700 more jobs and reduce the value of its long-distance network by an undisclosed amount.
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AT&amp;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&#39;s plan to retreat from the traditional consumer telephone business following a lost court battle.
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Cingular said it closed its &#36;41 billion purchase AT&amp;T Wireless on Tuesday. Cingular received approval for the deal earlier in the day from the Federal Communications Commission. The Department of Justice approved the acquisition on Monday.
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Delta Air Lines, the third-largest carrier in the United States, announced Wednesday it will cut 7,000 jobs -- 10 percent of its workforce -- during the next 18 months and will slash wages.
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Cingular Wireless, the nation&#39;s largest cellphone company, will cut about 10 percent of its 68,000 jobs over the next 12 to 18 months as it combines operations with the recently
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Chiquita Brands International Inc  said on Monday it will cut management jobs and close facilities as part of a restructuring to generate annual cost savings of $60 million to $80 million, sending its shares up more than 7 percent.
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Delta Air Lines will cut up to 7,000 jobs, reduce pay for other workers and close its Dallas hub as part of an effort to slash nearly $3 billion more in annual costs and chart a course toward financial recovery.
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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.
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Motorola Inc. announced Tuesday plans to cut 1,000 jobs worldwide and take a charge of $50 million for severance benefits. The job cuts are part of a restructuring resulting from the spin off of its semiconductor division into Freescale Semiconductor.
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The $41 billion cash purchase of Redmond-based AT&amp;T Wireless by Cingular, likely to close this week, means long-term good news for customers, a decidedly mixed picture for shareholders and employees, and big payout to top AT&amp;T Wireless executives.
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WASHINGTON (CBS.MW) - Sprint Corp. said Friday it will cut up to 700 jobs, write down the value of its traditional phone network and spend less money marketing standalone long-distance service.