SBC Communications to Lay Off Thousands, Scale Back High-Speed Internet Access.

Byline: Kirk Ladendorf

Oct. 23--SBC Communications Inc. said Monday that it will cut several thousand jobs across its 13-state territory during the next several weeks while dramatically slowing spending for construction of digital phone line service for high-speed Internet access.

The announcement came after the company announced disappointing third-quarter earnings that it attributed to a weak economy, onerous regulation and increased competition for local phone service.

SBC acknowledged that its local phone service declined by more than 1 million lines in the first nine months of 2001, a drop of 1.7 percent.

The phone company's management …