Bellsouth Corp
15 December 2005
For More Information:
Jeff Battcher
404 249-2793
BellSouth announces management reduction
Most are expected to take voluntary offer
December 15, 2005, ATLANTA - In an ongoing effort to better position the company
for success in the competitive broadband marketplace, today BellSouth (NYSE:
BLS) announced a management reduction of approximately 1,500 employees. The
reductions will take place in supervisory and non-supervisory management
positions, including staff support functions. Most of the reductions are
expected to occur through the acceptance of voluntary severance packages and are
to be completed by April 30, 2006.
"Reducing workforce is the toughest business decision a company has to make,"
said BellSouth Chairman and CEO Duane Ackerman. "We have worked hard to avoid
it, but many companies our size and particularly our competitors operate with
lower overhead and fewer management layers."
BellSouth will record an after-tax charge of approximately $95 million,
approximately $50 million of which will be recognized in the fourth quarter of
2005.
About BellSouth Corporation
BellSouth Corporation is a Fortune 100 communications company headquartered in
Atlanta, Georgia. BellSouth has joint control and 40 percent ownership of
Cingular Wireless, the nation's largest wireless voice and data provider with
52.3 million customers.
Backed by award-winning customer service, BellSouth offers the most
comprehensive and innovative package of voice and data services available in the
market. Through BellSouth Answers(R), residential and small business customers
can bundle their local and long distance service with dial-up and high-speed DSL
Internet access, satellite television and Cingular(R) Wireless service. For
businesses, BellSouth provides secure, reliable local and long distance voice
and data networking solutions. BellSouth also offers print and online directory
advertising through The Real Yellow Pages(R) from BellSouth and
YELLOWPAGES.COM(TM)
BellSouth believes that diversity and fostering an inclusive environment are
critical in maintaining a competitive advantage in today's global marketplace.
More information about BellSouth can be found at http://www.bellsouth.com.
In addition to historical information, this document may contain forward-looking
statements regarding events and financial trends. Factors that could affect
future results and could cause actual results to differ materially from those
expressed or implied in the forward-looking statements include: (i) a change in
economic conditions in markets where we operate or have material investments
which would affect demand for our services; (ii) the intensity of competitive
activity and its resulting impact on pricing strategies and new product
offerings; and (iii) those factors contained in the Company's periodic reports
filed with the SEC. The forward-looking information in this document is given as
of this date only, and, BellSouth assumes no duty to update this information.
This information is provided by RNS
The company news service from the London Stock Exchange
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