SBC to Cut 5,000 Jobs in 13 States
Bloomberg News
SBC Communications Inc. will eliminate 5,000 jobs, or 2.6% of its work force, this quarter after the second-biggest U.S. local telephone company and parent of Pacific Bell had its first loss in almost five years.
Jobs will be cut in 13 states, including California.
Reductions will affect management and non-management employees who don’t directly serve customers, SBC said.
The company pared 4,000 jobs in the first quarter and said last month it would shed about 4,000 more through December.
Shares of San Antonio-based SBC rose 99 cents to close at $33.04 on the New York Stock Exchange.
