BellSouth Announces Management Reduction
15 Décembre 2005 - 10:03PM
PR Newswire (US)
Most Are Expected to Take Voluntary Offer ATLANTA, Dec. 15
/PRNewswire-FirstCall/ -- 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. DATASOURCE: BellSouth Corporation
CONTACT: Jeff Battcher of BellSouth Corporation, +1-404-249-2793
Web site: http://www.bellsouth.com/ Company News On-Call:
http://www.prnewswire.com/comp/095650.html
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