SBC plans post-takeover job cuts
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US phone company SBC says it expects to cut nearly 13,000 jobs following its $16bn takeover of AT&T.
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Emilio Botin, head of Banco Santander Central Hispano, is today expected to tell union officials that the Spanish bank&#39;s Â£8bn takeover of Abbey National might cause up to 4,500 job losses over three years.
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Charlotte-based Bank of America Corp. will slash 4,500 positions from its work force, or about 2.5% of its payroll. The company expects to incur charges of $150 million over three quarters, beginning in the third quarter, from severance payments.
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BIRMINGHAM, Ala. -- The new owners of SouthTrust Corp. have told state officials they plan to cut 829 jobs in Birmingham between January 2005 and March 2006.
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The company will cut more than 6 percent of its shrinking work force, as part of a plan to improve sagging financial and operational results.
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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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SBC Communications SBC.N will pay  Microsoft Corp. MSFT.O at least $400 million over 10 years  for technology to help SBC sell video services over its  upgraded broadband lines, the companies said Wednesday.
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Morgan Stanley  is cutting about  1,000 jobs in the coming week, part of efforts to trim costs  ahead of what it expects will be a tougher business  environment, a person briefed on the moves said on Thursday.
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Bank of America has an option to cut at least 4,500 jobs while reorganizing its structure. This is not the first time when the bank reduces jobs.
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SBC Communications Inc. SBC.N is  in talks to acquire AT&T Corp. T.N for more than $15 billion  to bolster its business among large corporations, sources  familiar with the talks said on Thursday.
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SBC Communications says it may cut about 10,000 jobs by the end of next year, which would equal, 6% of its workforce. The cuts are a result of customers switching from regular phone lines to cellular and voice-over internet services.
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Unions seek assurances on jobs in the event of a Barclays' takeover of Dutch bank ABN Amro.
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The job cuts are a part of the company&#39;s efforts to shift its focus to business services and cut costs amid the competitive long-distance telephone services market.
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Spain&#39;s Banco Santander Central Hispano is expected to announce today that it will cut up to 3,000 jobs at Abbey National if it succeeds with its agreed bid for the UK bank, the Financial Times reported.
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Santander Central Hispano said Monday it expects to cut about 3,000 jobs at Abbey National as part of a cost-saving plan if its friendly takeover bid succeeds.
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Up to 200 former TXU Corp. (NYSE: TXU) workers, who went to work for a consulting firm after a deal between the companies, will lose their jobs, a spokesman for the consulting firm said Friday.
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Hoff offed Tiscali will slash hundreds of customer care jobs at recent acquisition Pipex broadband and voice, staff were told yesterday afternoon.â¦