As many of its customers sought to cope with their own economic troubles by cutting back on telecommunications services, SBC reported last month that its third-quarter profit fell 30percentt and that it would eliminate thousands of jobs.
If, for example, foreigners liberalise their telecommunications industries, thereby cutting costs for their companies, firms at home will demand the same freedoms.
Corning, a supplier of components to fiber optic networks, fell almost 20percentt yesterday after it warned Wednesday that its first-quarter profits could be weaker than expected because capital markets were tightening and telecommunications companies were cutting spending.
Internet companies and cutting-edge telecommunications concerns, after all, were revolutionizing the world.
But cutting-edge telecommunications infrastructure, a pool of technology experts and generous government incentives more than compensate, executives said.
A report by the EU statistical office Eurostat reported today that almost one in five EU households have gone fully wireless, cutting off landline subscriptions that dominated the telecommunications market for over one hundred years.
In the telecommunications sector, Virgin Media said it was cutting 900 jobs, affecting sites in London and Birmingham.
Telecommunications company Level 3 Communications is cutting 325 network construction workers, but says it's still looking for people in network operations and sales.
AT&T Laboratories, the telecommunications company's elite research arm, is cutting about 200 jobs as it shifts its focus to Internet-based network technologies.
The acquisition highlights Time Warner Cable's confidence in the cable subscription business at a time when cable companies are losing customers to telecommunications companies like Verizon, and when other customers are contemplating cutting the cord and consuming video online instead.
