AT&T to Cut 4600 Positions
SAN ANTONIO, Texas, April 18, 2008 -- Telecommunications giant AT&T Inc. announced today it will trim approximately 4600 positions, primarily in management, as it continues to streamline its operations.
AT&T told the Associated Press that the cuts, which represent approximately 1.5 percent of its 309,050 employees, would occur mostly in corporate functions, such as finance, and in wireline operations, including local phone service and service for large corporate customers. The company said it expects its overall headcount to remain stable this year as it hires additional employees to support its growth areas, such as wireless and TV.
In a filing with the US Securities and Exchange Commission Friday, the company said it will take a $374 million pre-tax charge against earnings for the first quarter as a result of the work force reductions.
For more information, visit: www.att.com
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