AT&T Cuts 7,400 Jobs, Asset Value by $11B
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NEW YORK - AT&T Corp. is cutting at least 7,500 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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An announcement that AT&amp;T would drop its prices for its VoIP CallVantage Service, its popular residential broadband phone service, from $34.
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NOVEMBER 24, 2004  - With its acquisition of AT&amp;T Wireless Services Inc. complete (see story), Cingular Wireless LLC is preparing to lay off about 10% of its 68,000 workers over a 12- to 18-month period starting next year.
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US mobile firm Cingular is laying off 7,000 people, or ten per cent of its workforce, as part of its integration of AT&amp;T&#39;s wireless unit.
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AT&amp;T Corp. swung to a third-quarter loss of $7.12 billion due to huge charges from the company&#39;s retreat from traditional telephone services, which included at least 7,500 more job cuts and a writedown in the value of the company&#39;s long-distance network.
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SBC Communications Inc. expects to eliminate about 13,000 jobs after its $16 billion acquisition of AT&amp;T Corp. closes, but the phone company said yesterday that many positions can be cut through attrition.
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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. will cut more than 20 percent of its workforce this year, ratcheting up its planned layoffs from a previously estimated target of 8 percent, the long-distance telecommunications carrier announced Thursday.
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Alcatel-Lucent  on Friday said it would cut about 12,500 jobs over three years, more than previously announced, as it reported a fourth-quarter net loss and forecast a drop in first-quarter revenues.
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AT&T Inc., the nation's largest telecommunications company, earned $3.1 billion during the fourth quarter on gains in its wireless business and growth in its broadband Internet sales, the company reported Thursday.
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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force, or 7,000 jobs.
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Newly-merged telecoms firm Alcatel-Lucent is to cut 12,500 jobs in three years as profits are halved.
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AT&amp;T Corp., the No. 4 U.S. telephone company, said on Thursday its fourth-quarter earnings increased as it cut costs through slashing jobs and lower equipment expenses.
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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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WASHINGTON  - AT&T Corp. on Thursday reported a $7.1 billion third-quarter loss due to an $11.4 billion writedown of its assets after its retreat from consumer services and other restructuring charges.
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The AT&amp;T Corporation, the nation&#39;s largest long-distance provider, said yesterday that it would eliminate more than 20 percent of its work force this year and write off $11.
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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.