>

AT&T layoffs: 12,000 staff to go

AT&T (NYSE:T) the American Telecoms giant announced today they will lay off 12,000 of its staff due to recent economic conditions. This equates to 4 percent of its total workforce losing their jobs.

AT T are also reducing its capital expenditures for 2009, full information on the reductions will be stated in the telecommunications companies Q4 earnings posted in late January.

$600 million will be allocated to pay severance pay to those members of staff affected by the job cuts. AT&T announced that they will continue to add jobs in other areas such as video and broadband and wireless.

The Dallas, Texas-based company had said that the cuts will take start in December and through 2009.

Source: bizjournals

Comments

2 thoughts on “AT&T layoffs: 12,000 staff to go”

  1. Couldn’t they have seen the downturn in landlines coming decades ago and make adjustments? And don’t they make more from wireless customers than landline customers anyway? I don’t see how that explains the need to cut costs that way. Seems like a cop out.

  2. John says:

    I agree, this is got to be a cop out. we all know at&t knew what was coming, landline falls and wireless sales. now there employees are paying for their mistakes.

Live Comment

Your email address will not be published.