AT&T to cut 10,000 jobs post-merger

[MORTARDUDE]

http://money.cnn.com/2006/03/06/news...ex.htm?cnn=yes

AT&T to cut 10,000 jobs post-merger
Nation's No. 1 telephone company says the cuts would come starting next year, once the BellSouth deal completed.
March 6, 2006: 11:49 AM EST


NEW YORK (Reuters) - AT&T Inc. , which has agreed to buy BellSouth Corp. for $67 billion in stock, Monday said it expects to cut some 10,000 jobs between 2007 and 2009, once the acquisition has closed.

The deal, announced on Sunday, would bring ownership of Cingular Wireless, the No. 1 U.S. wireless telephone company, under one roof, which Wall Street analysts have said would streamline management and allow one parent company to enjoy all of the financial benefits.



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A purchase of BellSouth would recombine the former AT&T (Research), also known as "Ma Bell," with four of the seven original "Baby Bell" regional telephone companies that were split off when AT&T was broken up by a court order in 1984.

At the time, AT&T controlled the long-distance telephone assets and its seven offspring offered regional and local telephone services.

Together, AT&T and BellSouth (Research) would have a national long-distance telephone and data network, residential customers stretching from Florida to California and business customers comprising more than half of the Fortune 1000, analysts have said.

The next largest telephone company is Verizon Communications.

Meanwhile, two consumer groups said Sunday that they'll urge U.S. antitrust authorities to block the deal, arguing it would lead to higher prices.

Consumers Union and the Consumer Federation of America said they would ask the Justice Department's antitrust division to reject the $67 billion deal that would extend AT&T's reach and solidify its position as the No 1. U.S. telephone company.

BellSouth stock jumped about 11 percent in morning trading while AT&T fell about 1 percent, both on the New York Stock Exchange.

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Consumer groups look to squash AT&T-BellSouth deal -- click here.

[b3196]

Looking at it from a selfish point of view and being a stock holder of Bell South. Their stock is going crazy (up)
Bob K

[Packo]

Bob....sell now. Once AT&T gets it...they are bound to screw it up.

J.P. Packo

[b3196]

E F Pack
ATT is buying Bell South at 37 a share to its stock holders.....That when I dump it
Bob

[Boats]

Looks like monopoly once more.