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Updated from Oct. 7
The ax is swinging again at AT&T (T Quote).
The struggling telco said late Thursday it would slash its workforce and take a big asset writedown, confirming reports by TheStreet.com over the past week. AT&T's decision represents its latest effort to revive its flagging fortunes as the telecom industry grows ever more cutthroat.
In premarket action Friday, AT&T rose 38 cents to $15.42. The stock is down more than 25% this year, having touched an all-time low in August. ...
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