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BellSouth boosts earlier severance plan

The Atlanta Journal-Constitution
Published on: 03/13/06
BellSouth is boosting a previous severance plan, thanks to the emergence of a better deal tied to the expected purchase of the company by AT&T.

The plan involves job cuts that were announced in December, before the AT&T deal. In filings with the Securities and Exchange Commission Monday, BellSouth disclosed that, for director-level managers and others in management, the company now plans to pay severance equal to 7 percent of base salary per year of service — in other words, someone with 15 years at BellSouth would get a payment equal to 105 percent of their salary. The previous total was 5 percent per year of service, equivalent to 75 percent of pay for someone with 15 years of tenure.


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