SBC to cut 3,000 to 4,000 jobs

[cthrumatrix]

SBC to cut 3,000 to 4,000 jobs
By Jeffry Bartash, CBS.MarketWatch.com
Last Update: 9:25 AM ET Dec. 9, 2003

WASHINGTON (CBS.MW) -- SBC Communications on Tuesday said it plans to eliminate 3,000 to 4,000 jobs as part of its continued effort to cut costs and streamline its operations.

SBC (SBC: news, chart, profile) said it will offer early-retirement packages to some employees, while it plans to leave other positions unfilled when workers retire or voluntarily leave the company.

The reductions will cost as much as $150 million in pretax expenses, the equivalent of 3 cents a share, in the fourth quarter, the phone carrier said. See News Release.

Last month, SBC announced that it will close more call centers and reduce its work force. At the time, the company did not specify how many jobs would be eliminated.

In the past two years, the company has sliced 28,000 jobs to offset an industrywide slump triggered by a global economic slowdown and intensified competition.

snip

http://cbs.marketwatch.com/news/story.asp?guid=%7B1B178B0E%2D60A5%2D400D%2D97DB%2DE4EA84892A9F%7D&siteid=mktw

[shanti]

1. cell phones

i wonder how much of an effect they have had on sbc. land lines are becoming passe'.

[mhr]

9. SBC Owns A Part Of Cingular And Cingular Has Laid Off Thousands As Well!

eom

[UpInArms]

2. is the puppet going to

take the "responsibility" for this "improved" economy?

Wasn't it just last week that it said its policies were working?

So sad that so many will not be "working" :(

[Just Me]

3. How much more can we take,...

,...of this job-slashing, store-closing economy?

[Say_What]

15. Read a bit about what happened in Argentina, that is what is going

to happen here.

The US is the world's largest debtor and the dollar is at its lowest. Everything is on its way to being privatized (Medicare, probably SS next), jobs are leaving the US faster than you can say *what happened*, and austerity measures are creeping in slowly so most don't notice it. Here's an article from Project Censored that was buried in the the *free and democratic* press last year.

<clips>

3rd World Austerity Policies: Coming Soon To a City Near You

Sources:
HARPER'S MAGAZINE, March 2003
Title: "Resolved to Ruin"
Author: Greg Palast

COVERT ACTION QUARTERLY, Spring 2002
Title: "Global Rollback"
Author: Michael Parenti

THE TEXAS OBSERVER, 1/17/03
Title: "Mistakes Were Made" (a book review of Globalization and Its Discontents by Joseph Stiglitz)
Author: Gabriella Bocagrande

Evaluators: Eric McGuckin Ph.D., Linda Nowak Ph.D.
Researched by: Tony Cullen, Scott Frazier

Policies traditionally carried out overseas by “international lending institutions” such as the World Bank or International Monetary Fund (IMF) are quickly becoming part of the U.S. domestic economy. Privatization, loss of social services, bifurcation of the economy and an overall decline in the lives of working people are an ongoing reality in the U.S.

Officially, IMF and World Bank measures were imposed to curb inflation, increase exports and strengthen the fiscal condition of debtor nations, allowing them to pay back their loans. In actuality, however, the common result of structural adjustments has been depressed wages, reduced consumer purchase-power, and environmental degradation, while boosting profit rates for multinational investors. Small farmers, having lost their subsidies and import protections, are driven off their land into overcrowded cities. According to a number of economists, including the former chief economist for the Wold Bank, as western investment in the Third World increased throughout the '90s, so did poverty and social instability.

The World Bank and IMF have a four-step "reform" formula for each country. The formula includes Capital-market liberalization, privatization, market-based pricing, and, finally, the introduction of “free trade.” In step one, capital is freed up to flow in and out across the borders. Generally the result is the increased flow of capital out to external businesses with no guarantee that the money will flow in through foreign investment.

Privatization is the second step. This refers to the transfer of traditionally state-run services and utilities like gas, oil, roads, water, post offices, and banks to private companies. The problem, say critics, is that private ownership of a country’s framework leaves it unable to protect its citizens or natural resources from abuses of power.

http://www.projectcensored.org/publications/2004/21.html

[Beetwasher]

4. The Cuts Just Keep Coming

Why do I have the feeling it's far from over? After a shitty xmas season, the beginning of next year is going to be ugly...

[ewagner]

5. AAhhhhhh.....

The Bu$h "Miracle Recovery" continues.

<sarcasm>

[JM]

6. Pales in comaprison

to Verizon, who is cutting over 20,000. I spoke to a friend the other day who is a contractor at Verizon. Apparently, they wanted to cut 10,000-15,000 though early retirements and other incentives. more than they anticipated took advantage of getting out.

I get the impression it is "take the money while offered. It may not be there in the future."

JM

[FreakinDJ]

7. SBC has some serious problems

SBC has some serious problems.

One department has no clue as to what the other department is doing. We had a pretty good telecommunications company before, Pacific Bell. The SEC never should have allowed the SBC take over of Pac Bell.

Oh I am sure they need to cut jobs, but not entierly for the reasons they are stating. The real reason is many are switching over to alternate providers, fed up with the SBC bull.

Its just another example of deregulation that sucks. Again the company moto is "make 'em pay more for less service"

[Philostopher]

11. They merged with Ameritech here in the recent past.

And Ameritech had the absolute worst customer service I had ever dealt with, bar none, in a telecom consumer service provider (MCI was a worse business provider, but that's another song entirely). It was so bad the state of Ohio sued them and they had to pay a settlement for it, so you know it must have been egregious -- who gets sued and loses over bad customer service, anymore, now that mediocre customer service is the gold standard in the telecom industry?

SBC has swallowed up several smaller regional companies in recent years -- this is all part of doing that, I would guess. Having SBC come in actually improved things for local Ameritech customers here, so maybe some of the bloodletting has to do with getting rid of the genuinely bad service liability in places Ameritech served, I don't know. Still sucks for the people who get 'remaindered,' I sincerely hope nobody mistakes this for my being unsympathetic; but it seems like any time a company swallows up a local or regional carrier, they unload what they determine to be the chaff at the smaller provider. In the case of Ameritech, they truly are chaff, but I've heard more than one person complain about post-SBC takeover Pac Bell, so obviously it isn't always the case.

[KansDem]

13. Ain't that the truth...!!!

One department has no clue as to what the other department is doing.

Just last week I was on the phone with SBC about a billing dispute. I spoke to (at least) 6 different people and was tied up on the phone for almost 90 minutes. At one point I was cut off and had to call back.

As it turns out, SBC (or more precisely, Yahoo Internet Services) owes me a substantial chunk of money. I'm suppose to receive a credit on the next billing cycle (or the one after that, depending who I believe).

Talk about one hand not knowing what the other hand is doing!!!

[ConcernedCanuk]

8. hmmm - all these people out of work in the USA - and Bush needs "warriors"

. . so maybe they won't NEED the draft ?

. . the BFEE doesn't require brain surgeons to fight their illegal wars

BUT

the WH DOES need "brain surgery" ? - no ?

Just a Humble Canuk's Opinion

[mhr]

10. Out Of Work Here, Pretty Poor Warrior At 46!

eom

[Norquist Nemesis]

12. Same here

A few sporadic consulting projects here and there then waiting and waiting and waiting for payment of the job. I'm hoping and praying that the promised check for my most recent job gets here pdq so my kids can have at least one or two presents from me and their dad.

Sucks. Big time.

[KansDem]

14. You're only 6 years beyond your years of "youthful indiscretions"

You're still in your prime!!! ;)