AT&T To Cut 12,000 Jobs

[w¡n9Nµ7 §£@¥€r 123]

AT&T Inc. (T) will cut about 12,000 jobs, or 4% of its work force through the end of next year, as the global economic downturn quickens telecommmunication companies' moves to cut costs at their declining landline businesses.

AT&T said economic pressures, a changing business mix and more streamlined structure led to the decision. The company expects to take a fourth-quarter severance-related charge of about $600 million.

"You always want to match your work force with the workload, and we think this does that," AT&T spokesman Michael Coe said. "We always continue to evaluate our work force needs in what is a highly competitive environment, and we're also seeing economic pressures in the U.S. and around the world."

http://money.cnn.com/news/newsfeeds/articl...04_FORTUNE5.htm

[Mononoke28 137]

I worked for AT&T a while back and it wasn't that bad, the salaries aren't that high but pretty stable... until now.

Diana

[Dr. A ♥ O 203]

12,000