AP: SBC Cutting Jobs

The Associated Press reported on Tuesday that SBC Communications Inc, which is buying AT&T Corp., will cut about 13,000 jobs after the $16 billion acquisition closes. The executives emphasized many of the positions can be eliminated through attrition, as opposed to layoffs, the wire service reported.

AP said the job cuts projection came during what it called an occasionally heated meeting with investors, the day after SBC announced it will buy its former corporate parent AT&T. The anticipated job losses would be in addition to plans already in place by the two companies to cut jobs before the merger is finalized a year from now, AP said.

Share this article: Email, Slashdot, Digg, Del.icio.us, Yahoo!MyWeb, Windows Live Favorites, Furl
Add this article feed to: RSS, My Yahoo, Newsgator, Bloglines