UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): December 14, 2005

 

BELLSOUTH CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

GEORGIA

(State or Other Jurisdiction of Incorporation)

 

1-8607

58-1533433

(Commission File Number)

(IRS Employer Identification No.)

 

Room 15G03, 1155 Peachtree Street, N. E., Atlanta, Georgia

30309-3610

(Address of Principal Executive Offices)

(Zip Code)

 

(404) 249-2000

(Registrant’s Telephone Number, Including Area Code)

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

 

Item 2.05 Costs Associated With Exit or Disposal Activities

 

In an ongoing effort to better position the company for success in the increasingly competitive broadband marketplace, on December 14, 2005, BellSouth determined that it would reduce its management workforce by approximately 1,500 employees. The reductions are expected to be completed by the end of April 2006. The anticipated benefit of the work force reductions is expected to be in the range of $175 million annually.

 

As a result of this reduction in force, we will record an after-tax charge for employee termination benefits of approximately $95 million, approximately $50 million of which will be recognized in the fourth quarter 2005. Cash expenditures related to the severance are expected to be incurred in the first half of 2006.

 

Item 9.01 Financial Statements and Exhibits

 

 

(c) Exhibits

 

Exhibit No.

 

99a

Press Release dated December 15, 2005

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

BELLSOUTH CORPORATION

 

 

By: /s/ Pat Shannon

 

 

Pat Shannon

 

 

Senior Vice President – Finance and Controller

 

December 15, 2005

 

 

 

 

 

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