August 21, 1992 |
Ameritech, AT&T to Cut Jobs: Ameritech Corp., parent of telephone companies in five Midwest states, said it will cut 12% of its managers, about 2,500 people, in a streamlining move. The cuts will take place by April, a spokesman said. Some early retirement packages will be available, but other employees will be notified of layoffs by Oct. 15. Separately, American Telephone & Telegraph Co. said it will eliminate 728 jobs as it closes leased-equipment facilities in four states.
January 22, 1992
Ameritech said its fourth-quarter profit fell 30% while earnings for all of 1991 fell 1.5%. Net income for the three months ended Dec. 31 totaled $199.2 million, or 75 cents a share, down from $286.8 million, or $1.09 a share, in the same period of 1990. The 1991 quarter included a restructuring charge of about 53 cents a share for job reductions and writedowns of assets. Fourth-quarter revenue rose to $2.74 billion from $2.69 billion a year earlier.
December 31, 1991 |
Ameritech to Open Its Phone Network: In a move expected to bring increased competition in the telecommunications business, Chicago-based Ameritech Corp. said it will open its five-state Bell phone network to other firms. It expects providers of voice mail, home shopping, electronic banking and other computerized information services to buy telecommunications features from Ameritech. In turn, the vendors will be able to deliver enhanced services to businesses and consumers.
September 27, 1991 |
Ameritech on Thursday became the first--but probably not the last--of the Baby Bells to offer a credit card similar to a highly successful one marketed by its former parent, American Telephone & Telegraph. The Ameritech card is a Mastercard and, as with AT&T's Universal card, it doubles as a telephone calling card. It is available to Ameritech's 10 million residential customers in Indiana, Illinois, Michigan, Ohio and Wisconsin.
September 26, 1991 |
Ameritech Aims to Trim Management Ranks: Ameritech Corp. plans to trim its management ranks by nearly 13% by offering enticements to retire early, the regional telephone company announced. The Chicago-based holding company for Bell telephone utilities in the Midwest said it expects 3,000 of its 23,900 managers to take advantage of the offer. The managers will be offered pension benefits computed with three years added to their age and length of service.