View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 15, 1991

VOLUNTARY MANAGEMENT REDUNDANCY IN NEW ENGLAND

By CBR Staff Writer

The board of directors of New Haven, Connecticut-based Southern New England Telecommunications Corp has approved a management voluntary redundancy package providing pensions and one-time payments for managers that leave by October 18; the company is to take a one-time charge against second quarter earnings of $0.33 per share, representing $36m of combined costs associated with a redundancy offer made earlier this year to other employees as well as those estimated for the current offer; the company claims that wage savings will accrue in the fourth quarter, and it anticipates that both offers will result in the loss of 1,000 staff; however, New England Telecom looks to be sailing close to the wind; the pretax charge of $36m is dangerously close last year’s net of $36.7m on turnover of $403.8m.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU