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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Newly-merged telecoms firm Alcatel-Lucent is to cut 12,500 jobs in three years as profits are halved.
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AT&T wants to trim the deal's scope, The Wall Street Journal reports.
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AT&amp;T Corp. (TN: Quote, Profile, Research) , the No. 3 US telephone company, on Thursday reported a $7.1 billion third-quarter loss due to $12.
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AT&amp;T Corp. said it would restructure its business, cutting 20 percent of its jobs and writing down the value of its network by $11.
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Telephone company AT&T Corp.  has cut the 2004 bonus of Chairman and Chief Executive Officer David Dorman by a quarter from a year ago to &#36;1.97 million, a regulatory filing showed.
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Alcatel-Lucent  on Friday said it would cut some 12,500 jobs over three years as it reported a dip into net loss for the fourth quarter and forecast a drop in first-quarter revenues.
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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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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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Cingular Wireless on Tuesday closed  its $41 billion cash purchase of AT&T Wireless Services Inc.  AWE.N, creating the biggest U.S. mobile telecom service with  more than 46 million customers.
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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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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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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&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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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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NEW YORK - AT&amp;T Corp. swung to a third-quarter loss of $7.1 billion after recording huge charges related to the company&#39;s retreat from traditional telephone services, which has included at least 7,500 more
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US telecoms giant AT& T has announced that it plans to cut its workforce by 20% this year, axing a further 7,000 jobs.