AT&T to eliminate 5000 jobs (CNBC 2:25 est)

[cthrumatrix]

AT&T Tremors Grow Stronger as Cuts Loom

By Scott Moritz
Senior Writer
10/4/2004 2:14 PM EDT
Click here for more stories by Scott Moritz

AT&T (T:NYSE - news - research) chief Dave Dorman has canceled his presentation at a major investment conference this week as the company prepares for a dramatic shakeup.

snip

As TheStreet.com first reported Friday, AT&T is in the process of eliminating thousands of jobs as it retreats from the consumer market and slashes deeply into its business services unit. The cancellation also helps to revive speculation that Dorman may be on the way out due to his inability to pull Ma Bell out of its plunge.

AT&T representatives weren't immediately available for comment.

People familiar with the plan now say as many as 15,000 employees, or one-quarter of the workforce, could see their jobs eliminated. Some inside the company say about 70% of the workers in AT&T's consumer group are being cut and 25% of the people in the company's business services division are being let go.

snip

http://www.thestreet.com/_mktwrm/tech/scottmoritz/10186045.html?cm_ven=CBSM&cm_cat=FREE&cm_ite=NA

[BootinUp]

1. Not to worry, McJobs are available

[Name removed]

10. Deleted message

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[BootinUp]

11. you feelin ok there vonkie?

[Name removed]

14. Deleted message

Message removed by moderator. Click here to review the message board rules.

[ReadTomPaine]

17. Please read the news items before responding.

Assuming that you are here to be informed. Your note was callous in regards to the story mentioned.

RTP.

[whistle]

2. Eliminate 5,000 jobs in the United States, but transfer them to 3rd....

...world. Profits will be returned to AT&T, but only the owners will benefit and executive management will have big bonuses ( i.e. 5,000 jobs equal $250 million+ in annual salaries reduced by being shipped overseas saving about $200 million per year or $2 billion over ten years). Multiply that by 100's of multi-national companies and you have some idea of the magnitude of the Bush/Republican reshaping vision for America.

[truthisfreedom]

3. calm down! there's loads of room on Ebay for everyone to sell knick-knacks

and old junk they can't fit into their new efficiency apartments.

[peacetalksforall]

5. Cheney is giving seminars on how e-bay can be profitable for all.

And he's only charging $500.00 for the one day class.

[ixion]

4. get those techs an apron

from Systems Analyst to burger flipper.

This is the economic result of outsourcing to India and China.

[hatrack]

6. So was it because they lost money?

Or was it because they made money? Those seem to be the two main excuses for mass firings these days.

[jean]

7. I hope all news outlets piggy back this story with bush admin coverage

This is what happens in the real world when the leader screws up.

[UpInArms]

8. as many as 15,000 employees!!!

WTF???

Will the last one leaving turn out the lights?

another flashback to the 80s.

:sigh:

I fear we may not recover from this onslaught against the 'Murkin worker.

[BJ]

9. Meanwhile back at corporate headquarters...

"Stock bonuses for all board members and a great big vote of confidence for our CEO Dave Dorman and to all for a job well-done!!

[barb162]

12. it is getting so bad that it seems the companies are laying off

more people than they ever had in the first place. Thousands here, thousands there

[saigon68]

13. WE ARE ON THE CUSP OF AN ECONOMIC RECOVERY

And the band Played ON !!!!!!!!!!

[CBHagman]

15. They have Indian-based staff calling at dinnertime.

I can't tell you the number of times I've answered the phone for a telemarketing call obviously being made by an AT&T outsourced staffer in India.

How much does the damned CEO of this company make, huh? I'll bet he's not facing cutbacks.

[amazona]

16. surprised t is still in business frankly

They don't really have a product any more.