the general public in 1993. AT&T Capital Corporation is one of the largest equipment leasing and financing companies in the United States. It had revenues of approximately 1.4 billion dollars in 1994. Proceeds from the sale of AT&T Capital Corporation and from the Initial public offering of the new equipment company will be used to repay current AT&T debt and giving excess to each of the new businesses. The company plans to adjust each business' capital structure to ensure that it has the flexibility to raise resources, as it needs them. AT&T said that each of the businesses it is establishing will have everything it needs to meet its customers' needs. Each of the new companies already has experienced management and a productive work force. The service, equipment and computer businesses each has the sophisticated systems-integration capabilities necessary to provide complete solutions to its set of customers. And, where it makes sense to partner in serving a customer's needs, the new businesses could establish commercial relationships with each other. AT&T, which currently has 303,000 employees, said it cannot estimate the exact employment impact of the planned restructuring. All three of the companies will need additional resources to establish themselves as freestanding independent companies; however, each company participates in a highly competitive market and will need to continue to size its operations as efficiently as possible. AT&T said that it is highly likely that the new companies combined will not have as many employees as the present AT&T. The company set up a plan that will ensure that any employees dislocated by the restructuring will have access to job opportunities across the total corporation, as well as to a full range of assistance, ranging from job counseling to retraining....
