AT&T freezes manager pay for 2004

/ Source: The Associated Press

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.