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May 7, 1997updated 05 Sep 2016 12:12pm

BELL ATLANTIC AND NYNEX DENY MASSIVE LAYOFFS

By CBR Staff Writer

Bell Atlantic Corp and Nynex Corp on Tuesday denied a report published in the Wall Street Journal that said the merging telecom giants would cut 10,000 jobs over the next five years. According to Reuters, the two companies say they intend to stick with their previously announced plans to cut 3,000 management positions within three years. The newspaper, citing sources familiar with the plan, said that the cuts could reach 15,000 eventually. The proposed merger recently received Justice Department approval (CI No 3,148) but still awaits approval by the Federal Communications Commission.

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