Bellsouth Corp
17 May 2002
News Release
For Immediate Release
May 17, 2002
For More Information Contact:
Jeff Battcher
BellSouth Media Relations
404-713-0274
BellSouth announces workforce reduction
May 17, 2002, ATLANTA - BellSouth announced today that it will reduce its
workforce by 4,000-5,000 employees. The reduction will involve both
non-management and management positions and is designed to reduce operating
costs in response to a slow economy, increased competition and regulatory
pricing pressures.
"We face a fiercely competitive marketplace, and we must continue to reduce our
cost structure in order to compete," said BellSouth Chairman and CEO Duane
Ackerman. "We must continue to deliver our products and services at competitive
prices to meet the increasing demands of our customers."
The company expects to achieve its management force reduction needs through a
voluntary separation plan. Non-management separations will be handled in
accordance with the current working agreement with the Communications Workers of
America.
As a result of the reduction, BellSouth will record an after-tax charge of
$250-300 million.
About BellSouth Corporation
BellSouth Corporation is a Fortune 100 communications services company
headquartered in Atlanta, GA, serving almost 45 million customers in the United
States and 14 other countries.
Consistently recognized for customer satisfaction, BellSouth provides a full
array of broadband data and e-commerce solutions to business customers,
including Web hosting and other Internet services. In the residential market,
BellSouth offers DSL high-speed Internet access, advanced voice features and
other services. BellSouth also provides online and directory advertising
services, including BellSouth(R) Real PagesSM.com.
BellSouth owns 40 percent of Cingular Wireless, the nation's second largest
wireless company, which provides innovative wireless data and voice services.
###
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.