AT&T to Cut 7,000 Jobs and Reduce Assets by $11.4 Billion
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The drastic moves were prompted by AT&T's plan to retreat from the consumer telephone business following a lost court battle.
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AT&amp;T Corp. announced Thursday that it is cutting at least 7,500 more jobs and slashing the 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.
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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., 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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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 job cuts and
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AT&T wants to trim the deal's scope, The Wall Street Journal reports.
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Motorola Inc.  plans to trim an additional 4,000 jobs this year, bringing the total cuts for 2007 to more than 11 percent of its work force, as the world's No. 2 mobile phone maker reduces costs to return to profitability.
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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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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., the largest US long- distance telephone company, will eliminate 20 percent of its workforce this year and write down $11.
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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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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&amp;T Corp. announced yesterday that it is cutting at least 7,500 more jobs and slashing the value of its assets by $11.4 billion, drastic moves prompted by the company&#39;s plan
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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force as a result of its purchase of AT&T Wireless.
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ABN AMRO is to cut 2,850 jobs in its IT, investment banking and corporate banking divisions as part of a plan to cut a total of â¬770 million in costs from 2007.
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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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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.