Friday, April 18, 2008

AT&T to cut 4,600 jobs

Go to Financial Times original
AT&T Inc said on Friday it would cut its work force by 1.5 percent, or 4,600 jobs, primarily affecting management-level employees, resulting in a first-quarter pre-tax charge of $374 million.

The biggest U.S. telecommunications provider, which has about 310,000 employees, said in a regulatory filing that its head count would remain stable in 2008 as it hires more workers to support growth areas.

AT&T said the job cuts -- affecting its wireline telephone business in the United States and around the world in mostly ”non-customer-facing areas” -- are part of its efforts to streamline the company.

The job cuts come as it faces declining traditional phone sales and rising costs for deploying new, high-speed Internet and video services.


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