AT&T to Cut 12,000 Workers

Stock quotes in this article: T  

NEW YORK -- AT&T (T Quote) says it is cutting 12,000 jobs, or about 4% of its work force, because of the economic downturn.

The Dallas-based telecommunications company said Thursday the job cuts will take place in December and throughout 2009.

The company also cited a changing business mix and a more streamlined structure as other reasons for the layoffs.

AT&T plans to take a charge of about $600 million in the fourth quarter to pay for severance costs.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,023.42 1,069.30 2,112.44 35.03
Oil *
76.05
UP
17.46
UP
2.67
UP
7.12
DOWN
0.30
10 Yr
3.50%
SPDR Gold
107.43
+0.17%
+0.25%
+0.34%
-0.85%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services