Pacific Telesis sets voluntary plans for retirement

Article Abstract:

Pacific Telesis Group, aiming to cut 11,000 positions by 1995, initiates a voluntary retirement program. Other Bell companies, including Southwestern Bell, Ameritech, Nynex and Bell Atlantic, have similar programs in place. The telephone companies are trying to minimize costs at a time of slowed growth. Pacific Telesis first outlined its plan in 1990. Since then, the company has managed to cut its work force from 62,000 to 58,900. Retirement inducements such as severance pay together with attrition account for the cutbacks. Robert B. Morris, an analyst with Goldman, Sachs & Co, believes Pacific Telesis' retirement program might negatively impact earnings in 4th qtr 1991.

Profits, Profit, Pacific Telesis Group, PAC, Work Force Reduction

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Bell Atlantic sees New Zealand interest as base for expanding Pacific business

Article Abstract:

The recent $2.5 billion acquisition of New Zealand's Telecom Corp by Bell Atlantic Corp and Ameritech will provide a base for the two companies to expand operations in the Pacific Rim. Telecom Corp's telephone operations are mostly digital and may become a hub for providing corporate telecommunications services to the region. Telecom's workforce has been recently slashed from a peak 26,500 to a current level of 16,000 in 1990 and is expected to be reduced to 12,000 by 1992. Telecom earned $148 million on revenue of about $1.3 billion for fiscal year ending Mar 31, 1990. Profits were reduced by heavy capital spending on network improvements.

Mergers, acquisitions and divestments, Joint ventures, Bell Atlantic Corp., BEL, New Zealand, TEL, Joint Venture, Acquisition, American Information Technologies Corp., AIT, Telecom Corp.

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Nynex says 4,000 managers accept early retirement

Article Abstract:

NYNEX Corp is accepting the early retirement of approximately 4,000 managers as part of its operating cost reduction program. NYNEX is one of the several Bell Regional Holding Companies (BRHCs) to review personnel management policies in an attempt to improve productivity and profitability in the long-term. Earnings in the short-term are effected negatively by the retirement incentive costs. NYNEX's workforce is the oldest and considered to be the have the most excess of the BRHCs. NYNEX's staff consists of about 91,900, some 5,500 fewer employees than in 1988.

Officials and employees, Cost control, New York (State), Cost Reduction, NYNEX Corp., NYN

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