Bell Atlantic, NYNEX Refute Story On Jobs
May 6, 1997
PHILADELPHIA/NEW YORK -- Bell Atlantic Corp. (NYSE:BEL) and NYNEX
Corp. (NYSE:NYN) today reiterated their plan to reduce management
positions by 3,000 in the first three years after they close their
The companies have consistently maintained that position since the
announcement of their deal on April 22, 1996, and denied a story
appearing in today's Wall Street Journal which suggests they have
plans to reduce their combined work force by 10,000 within five years
of the close of their merger.
There are no such plans.
Competition and open markets in the telecommunications industry are
creating intense competition. Bell Atlantic and other
telecommunications providers are responding to that competition by
continually reducing costs and improving efficiency. At the same
time, in many segments of Bell Atlantic's business, we are adding
employees to meet new business opportunities.