AT&T weighs early retirement plan that may slash non-management staff
Article Abstract:
AT and T continues to use workforce reduction as its primary weapon in its plans to reduce costs and increase profits. This time the firm is drawing up an early retirement plan that it will offer to all or part of its 173,500 non-management employees. AT and T refused to comment on the plan, but sources say the deal will have incentives similar to those offered to management employees last year. One analyst says the deal could convince some 20,000 employees to opt for early retirement, at a savings to AT and T of $40,000 to $45,000 per employee. The plan comes on top of other workforce reduction plans that each of the 19 divisions of the company are implementing individually. These reductions will be significant in themselves, with only 4 of the 19 divisions having already submitted plans; reductions from this area already total at least 12,000 workers.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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AT & T plans to trim staff by 8,500 in 1990; cuts for 1989 to total 25,000
Article Abstract:
AT and T increases its efforts to streamline its operations and cut expenses by laying off 25,000 employees in 1989 and by making plans to cut an additional 8,500 in 1990. Several thousand layoffs come through unannounced cuts, however most involve early retirement or attrition. In addition to layoffs, AT and T is automating factories and back-office facilities, dividing the company into smaller, more concentrated business units. In Jan 1989, the company will announce a large consolidation of the Network Services division's facilities, including local-service offices and phone repair services. AT and T is making cost cutting a major goal in order to boost earnings and battle strong competitors, such as MCI Communications Corp that has been wooing customers away from AT and T.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1989
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AT&T outlines how it will trim 6,000 jobs at unit
Article Abstract:
AT&T will cut 6,000 jobs in its Network Services division, hoping for a $300 million annual savings. The cuts are part of an $18 billion program, begun in 1984, to convert the company's long-distance network to digital technology. The move is part of a larger plan to eliminate 10,000 to 12,000 jobs in 1990. Jobs will be trimmed through attrition and through cuts. An early-retirement plan is under discussion that would slice an additional 20,000 jobs. AT&T cites a need for fewer, albeit more skilled, employees and competition from such long-distance telephone services as MCI Communications Corp as the incentive for cutting its workforce.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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