Ameritech plans to cut 2,300 jobs

Article Abstract:

Ameritech will cut its workforce by 2,300, which is about 3 percent. The company will use attrition and layoffs, and the cuts will take place over the next few years. Ameritech will take a $140 million, or 53 cents per share, quarterly charge to cover costs of severance pay, and other charges such as the write-down of assets in unregulated businesses and payment of high-interest debt. The company cites increased competition against small, efficient telecommunications companies as a reason for the cutbacks. Ameritech provides local services for Illinois, Michigan, Ohio, Wisconsin and Indiana, and employs 75,700 workers.

Human resource management, Regional Bell Operating Companies, Layoffs, Layoff, Cost control, Competition, Cost Reduction, American Information Technologies Corp., Bell Regional Holding Companies

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A.T.&T. sees big charge to meet rule

Article Abstract:

AT&T plans to take a one-time charge in 1st qtr 1993 to cover costs for retiree health benefits under new accounting rules that have been adopted by the Financial Accounting Standards Board. The action means AT&T may record a loss in 1993. Under new accounting rules, AT&T must now estimate and report the probable amount of future benefit costs. For AT&T, the amount involved will be between $5.5 billion and $7.5 billion. Companies can take the charge all at one time or they can spread the amount over a 20-year period. AT&T opts to take the charge all at once.

Laws, regulations and rules, T, Accounting and auditing, Accounting, Retirement, American Telephone and Telegraph Co., Financial Accounting Standards Board, Revenue, Personnel

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