AT&T to cut 4% of workforce

In a press release this morning, AT&T announced that it plans to cut 4% of its workforce, amounting to approximately 12,000 jobs, beginning this month. While this news might not come as a surprise – it’s hard to be surprised by layoff announcements these days – it is a move that will impact a tremendous amount of people. The layoffs are slated to begin this month and will continue throughout 2009. AT&T is allocating $600 million as severance for those affected, but that will hardly change the fact that they will be in competition with the hundreds of thousands of others who have been laid off during this global economic crisis. AT&T has stated that while it is reducing manpower in many areas it will continue to add jobs in certain divisions such as wireless, video and broadband. As always, our sympathy and best wishes go out to those affected by this announcement.

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