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SBC says it will cut 5,000 jobs

Wednesday, May 15, 2002

SAN ANTONIO -- SBC Communications Inc. said Tuesday that it will eliminate 5,000 more jobs, or 2.6 percent of its work force, because of the slow economy. The cuts come on top of the 10,000 positions already eliminated since the fall.

The telecommunications giant said the job reductions will be distributed throughout its 13-state service area and will involve both managers and non-management employees.

In midday trading on the New York Stock Exchange, SBC stock was up 90 cents.

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