Regional phone company BellSouth Corporation said today it plans to cut 4,000 to 5,000 jobs as it struggles with a weak economy, tougher competition and regulatory pressures.
The company said it would slash both management and non-management jobs as part of the cuts.
"We face a fiercely competitive marketplace, and we must continue to reduce our cost structure in order to compete," chief executive Duane Ackerman said in a statement. "We also must continue to deliver our products and services at competitive prices to meet the increasing demands of our customers.''
The company said it would take an after-tax charge of $250 million to $300 million as a result of the reduction.
The cuts are the largest yet as BellSouth, which serves nine Southeastern states, struggles with a still-soft economy. In October, BellSouth slashed 3,000 white-collar jobs. And in December, it eliminated 1,200 technical and clerical jobs throughout the service area.