Saturday, July 13, 2002

Telus Makes Changes, Cuts 6,000 Jobs In an effort to improve efficiency and competitiveness, Canadian telecommunications company Telus (Telus.com) said on Thursday that it would consolidate customer contact centers and various operation and administrative functions, as well as closing most of its retail stores in Alberta and British Columbia. The actions, says Telus, are a part of the company’s previously announced Operational Efficiency Program, and will result in the elimination of approximately 6,000 positions in 2002 and 2003. Including the reduction of approximately 1,000 management positions in the past year, the program will equate to a reduction of Telus’s communications workforce by about 25 percent. 12:11:10 PM  Google It!  comment  []

Sprint to cut 1,200 jobs under reorganization A reorganization triggered by disappointing sales at Sprint Corp.'s E/Solutions division and other parts of the company will cost 1,100 employees their jobs. The Overland Park telecommunications company said Friday it would scale back the E/Solutions division and discontinue its business digital subscriber line, or DSL, high-speed Internet service in some markets. The company, which is the Kansas City area's largest corporate employer, said the move was being made to "better position its long-distance organization." 9:50:55 AM  Google It!  comment  []

Confidence in Economy Off Sharply This Month Consumer confidence has fallen the most since terrorists attacked New York and Washington, a report released today showed, as flagging trust in American companies hammered stocks and threatened the economic recovery. The University of Michigan said its preliminary index of consumer sentiment for July sank to 86.5, an eight-month low, from 92.4 in June. The index dropped almost 10 points in September. Stocks continued their recent decline yesterday. "There is a heightened risk that the troubles in the stock market will bleed over into the real economy," said Stephen Stanley, an economist at Greenwich Capital Markets in Greenwich, Conn. 9:33:58 AM  Google It!  comment  []