Internal Memo Says Bell Atlantic Must Cut Costs
BALTIMORE (AP) _ Bell Atlantic Corp. managers have been ordered to cut overtime and other costs because the company is not meeting profit targets, according to an internal memo.
″We must address some of those issues over which we have some control: force, overtime, material, supplies, etc.,″ Regina Novotny, vice president for network operations in Maryland and West Virginia, wrote in a memo Sept. 13.
″It has been acknowledged that results may slip as a result of the overtime policy,″ Novotny wrote.
The memo was obtained by The Baltimore Sun, which published an account of it Wednesday.
Dave Pacholczyk, a spokesman for Bell Atlantic, said the company isn’t in a financial crisis and the memo was ″standard corporate fare.″ He said the memo did not indicate lower profitability but a failure to meet internal targets.
″As a corporation, we certainly expect to come within the analysts’ projections,″ Pacholczyk said.
Bell Atlantic earned $804.6 million on $6.77 billion in revenue during the first half of the year. The company provides local phone service in six Eastern states and the District of Columbia.