AT&amp;T to Cut Workforce 20%, Take $11.4 Bln Writedown
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AT&amp;T Corp., the largest US long- distance telephone company, will eliminate 20 percent of its workforce this year and write down $11.
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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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AT&amp;T Corp. said it will cut one-fifth of its work force this year -- or 7,400 more jobs -- and write down $11.4 billion of assets as the phone company retreats from the residential business it once dominated.
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AT&T Corp. said it would restructure its business, cutting 20 percent of its jobs and writing down the value of its network by $11.4 billion, as it winds down its residential telephone business.
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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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National Semiconductor Corp.  NSM.N on Thursday said it would cut about 6 percent of its  work force to reduce costs amid a chip supply glut, and will  book severance charges of between $22 million and $26 million.
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Cingular Wireless LLC, the nation's largest cell phone 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 acquired AT&T Wireless, Cingular's chief executive said Tuesday.
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AT&amp;T is slashing its payroll by an additional 7,400 jobs and cutting the book value of its assets by $11.4 billion as it seeks to cope with declining revenue from its consumer and business segments.
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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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AT&T today announced layoffs affecting more than 20% of its workforce, far higher than the 8% it had said earlier in the year would be laid off.
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AT&T Corp. T.N, 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. swung to a third-quarter loss of $7.12 billion after recording huge charges related to the company&#39;s retreat from traditional telephone services, which has included at least 7,500 more job cuts
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Telecoms equipment provider Alcatel-Lucent  could cut up to 20 percent of staff, French weekly l'Expansion reported on Tuesday.
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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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NEW YORK, Oct. 21 -- AT&T Corp. reported a third-quarter loss of $7.12 billion Thursday because of huge charges resulting from the company's retreat from traditional telephone services, which included at least 7,500 more job cuts and a write-down in the value of the company's long-distance network.
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NEW YORK - 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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AT&T Corp. T.N, the No. 3 U.S.  telephone company, on Thursday reported a $7.1 billion  third-quarter loss due to $12.5 billion in charges for cutting  asset values and jobs after its retreat from consumer services.