AT&amp;T Cuts 7,400 Jobs, Asset Value by $11B
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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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Motorola Inc. , the world&#39;s  second-biggest mobile phone maker, said it expects to cut an  additional 4,000 jobs, bringing the total to 7,500 this year,  as it works to reduce costs to return to profit.
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ZDNet&#39;s survey of IT professionals in August kept Wired &amp; Wireless on top for the 18th month in a row. AT&amp;T will cut about 7,000 jobs and reduce the value of its assets by $11.
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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 as it retreats from consumer services.
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AT&amp;T, the US telecommunications group, yesterday said it will take a restructuring charge of about $1.1 billion in the third quarter mainly to cover the cost of about 7,000 job cuts and revalue downward its assets by $11.
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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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Cingular Wireless on Tuesday closed  its $41 billion cash purchase of AT&T Wireless Services Inc.  AWE.N, creating the biggest U.S. mobile service with more  than 46 million customers.
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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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AT&amp;T Corp., the former monopoly that once dominated the US phone market, said Thursday it will cut another 20 per cent of its workforce and suffer an asset writedown of US$11.
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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. two decades ago employed more than 1 million people in the United States. The recent announcement that AT&amp;T will cut its work force 20 percent to 49,000 by year&#39;s
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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 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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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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Cingular Wireless LLC, the nation&#39;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&amp;T Wireless, Cingular&#39;s chief executive said Tuesday.
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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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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.