AT&amp;T to cut 7,400 more jobs, take US$11.4B writedown
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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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AT&amp;T on Thursday reported a $7.1bn third-quarter loss because of an $11.4bn writedown of its assets after its retreat from consumer services and other restructuring charges.
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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., the largest US long- distance telephone company, will eliminate 20 percent of its workforce this year and write down $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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Time Warner&#39;s (TWX:NYSE - news - research) America Online division reportedly plans to cut 700 jobs next month in a concession to declining subscription rates at its flagship Internet unit.
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Cingular Wireless will cut about 7,000  jobs, or 10 percent of its work force, to cut costs as it  integrates recently purchased AT&T Wireless, the company said  on Tuesday.
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AT&T Corp., the No. 4 U.S. telephone  company, said on Thursday its fourth-quarter earnings increased  as it cut costs by slashing jobs and from a benefit related to  a prior writedown of assets.
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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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AT&T Corp. T.N 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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TORONTO Sept. 30, 2004 - Nortel Networks Corp. gave details of a previously announced job cut program Thursday, saying it is cutting 1,400 in the United States by next June.
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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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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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The phone company reported a fourth-quarter loss of $11.1 million as it scaled back on marketing and cut other costs.
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Sprint Corp. FON.N on Friday said it  plans to cut up to 700 jobs as it realigns its business to  focus on wireless and Internet services and takes a non-cash  network impairment charge.
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Cell phone maker Motorola Inc. said Wednesday it will cut another 4,000 jobs 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.