Reduction in work force reflects AT&amp;T&#39;s downfall
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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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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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Three of the nation's dominant local  telephone companies said on Thursday that they had seen a sharp  drop-off in new residential lines leased to competitors since  AT&T Corp. T.N announced a retreat from residential service  in July due to changing federal rules.
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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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More than a thousand people who phoned in for assistance too often -- at least in the company's eyes -- find themselves suddenly cut off from wireless service.
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AT&amp;T&#39;s Net phone service may ultimately generate less than $2 billion a year in revenue, Chief Executive David Dorman said Friday, which is chump change to a corporate giant.
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A slowing economy weighs on the employment software company.
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The telecom company cuts medical benefits for its retirees.
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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.
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The demand for wireless chips takes a turn for the worse for this company.
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By Justin Hyde WASHINGTON  - Three of the nation's dominant local telephone companies said on Thursday that they had seen a sharp drop-off in new residential lines leased to competitors since AT&T Corp.  announced a retreat from residential service in July due to changing federal rules.
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AT&amp;T Corp. said it will cut 7,400 more jobs this year 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&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 telecom giant AT and T will shrink even further, announcing on Thursday it would cut 20 percent of its workforce in 2004 and take an $US11.
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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 Corp. on Thursday said it is reducing one fifth of its workforce this year and will record a non-cash charge of approximately $11.
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AT&T Corp.  will cut about 7,000 jobs and reduce the value of its assets by &#36;11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.