AT&T under economic pressure: 12,000 job cuts announced
AT&T may be the mobile carrier with the biggest subscriber base in North America, but it seems that it’s not doing too great lately.
The giant mobile carrier has just announced what looks to be the largest layoff in the history of mobile operators.
More exactly, AT&T will cut about 12,000 jobs – a huge number, despite the fact that it only represents 4% of its total workforce.
The reasons invoked by AT&T for the job cuts include “economic pressures, a changing business mix and a more streamlined organizational structure”.
All affected employees, planned to be laid off starting this month and throughout 2009, will receive severance payments for which AT&T wants to allocate about $600 million.
Hopefully, the job cuts won’t affect the carrier’s customers. AT&T is actually confident that this won’t happen, saying that it wants to add other jobs in some departments.
Source: Press release
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