updated 12/26/2003 3:51:34 PM ET 2003-12-26T20:51:34

Roughly 43,000 managers at AT&T Corp. will not get pay raises next year, a move aimed at helping the telephone company contend with falling revenues in an industry beset with price wars and competition from wireless and Internet-based calling.

The managers, who normally would have been in line for raises in April, will have their salaries frozen until April 2005. The workers were notified recently in a mass e-mail from David Dorman, AT&T's chief executive officer.

This year, raises due in April were postponed until September.

AT&T, based in Bedminster, N.J., has about 64,000 workers.

Copyright 2003 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.79%
$30K home equity loan FICO 5.78%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com