AT&T Inc. today announced a planned reduction of approximately 12,000 jobs, or about 4 percent of the company’s total workforce, citing economic pressures, a changing business mix and a more streamlined organizational structure. In response to these business and economic factors, AT&T plans to reduce its 2009 capital expenditures from 2008 levels. Capital plans for 2009 are being finalized now and specific guidance will be provided when the company releases its fourth quarter results in late January.
Associated with these job reductions which will occur in December and throughout 2009, AT&T will take a charge of approximately $600 million in the fourth quarter of 2008 to pay severance to affected employees. While AT&T is reducing jobs in some areas, it continues to add jobs in other parts of the business such as wireless, video and broadband to meet customer demand.
Many non-management employees affected by these reductions have a guaranteed job offer under union contracts. All employees will receive severance in accordance with management policies or union agreements.
Maybe if they would not ask for a $500 deposit like they did me they would not need to lay off so many people. Been with TMobile for 1 year and never missed a payment at all. Foolssssssssssss!
I hope they go under! Thieves! I worked there for 11 years and know thier tactics! Besides, the department I was in didn’t do much anyway… punched some keys and was micromanaged. It was basically a make believe department where nothing was accomplished and just secured jobs for management! That’s why thier bills are so high! They pay dead beat micromanagers. And by the way, my job was directly related to bills… if AT&T was losing money, it got fixed ASAP! If it was the customer, we were told… “The customer will have to call in to get it fixed”. … I hope they run out of customers to “call in” about fraudulant charges!